DAX index was consolidating after hitting high of 12535 and closed yesterday at 12431 0.32% higher. US markets was closed slightly lower yesterday after six days of winning streak. Dow jones and S&P500 declined almost 1%…
DAX index was consolidating after hitting high of 12535 and closed yesterday at 12431 0.32% higher. US markets was closed slightly lower yesterday after six days of winning streak. Dow jones and S&P500 declined almost 1% and 0.58% yesterday. S&P500 futures is trading slightly up and has taken support near 55- day EMA at 2704. It is trading around 2718. Asian stock indices especially Nikkei is trading slightly higher on account of recovery of USD against JPY.
DAX index jumped almost 300 points in the previous week and has closed yesterday at 12431.
The minor bullishness can be seen only if it closes above 12660 (233- day MA) and any close above will take the index to next level till 12890/13050 (100- day MA). It should break above 13600 for further bullishness.
On the lower side, near term major support is around 11800 and any break below will drag the index till 11400/11000.
It is good to buy on dips around 12200-250 with SL around 12000 for the TP of 12660/13000.
