DAX30 is trading weak for the past 3- weeks on account of trade war tensions between US and other major economies. The index has lost more than 1000 points from the high of 13207 made on May 22nd 2018. It hits low of 121…
DAX30 is trading weak for the past 3- weeks on account of trade war tensions between US and other major economies. The index has lost more than 1000 points from the high of 13207 made on May 22nd 2018. It hits low of 12103 on Jun 28th 2018. It is currently trading around 12347.0.4% higher.
On the higher side, near term resistance is around 12518 (100- day MA) and any break above will take the index to next level till 12648 (55- day EMA)/12785 (200- day MA).
The near term major support is around 12000 (trend line support) and any violation below will drag the index down till 11700/11500.
It is good to sell on rallies around 12380-400 with SL around 12550 for the TP of 12000/11700.
