DAX index is continuing its bullishness for 8th consecutive week after forming a bottom around 11703.. The index recovered almost more than 1100 points (11%) from the low. US indices S&P 500 and Dow jones has declined al…
DAX index is continuing its bullishness for 8th consecutive week after forming a bottom around 11703.. The index recovered almost more than 1100 points (11%) from the low. US indices S&P 500 and Dow jones has declined almost more than 1% from the recent high. S&P500 futures is trading flat after a 0.68% decline yesterday and is trading around 2710 0.02% higher. Asian stock indices trading slightly lower following footsteps of US markets.
The minor bullishness can be seen only if it breaks 13050 and any break above will take the index to next level till 13198 (78.6% fibo)/13387/13600.
On the lower side, near term major support is around 12687 (200- day MA) and any close below will drag the index till 12576 (55- day EMA)/12200 (61.8% fibo).
It is good to sell on rallies around 13000-13050 with SL around 13200 for the TP of 12580/12200.
