DAX index was consolidating after hitting high of 12535 and closed yesterday at 12426 0.25% higher. US markets was closed slightly on the higher side with Dow (0.66% higher) and S&P500 (0.10% higher. S&P500 futures conti…
DAX index was consolidating after hitting high of 12535 and closed yesterday at 12426 0.25% higher. US markets was closed slightly on the higher side with Dow (0.66% higher) and S&P500 (0.10% higher. S&P500 futures continuing its yesterday upside momentum and is trading at 2718 0.27% higher. Asian stock indices are trading higher on the footsteps of US markets.
DAX index was trading flat in this week moved only 320 points from the low of 12215 and has closed yesterday at 12425.
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.The minor support is around 12000.
It is good to buy on dips around 12200-250 with SL around 12000 for the TP of 12660/13000.
