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FxWirePro: DAX30 Weekly Outlook

  • Major Resistance-  10750 (trend line joining 11926 and 11432).
     
  • Major support – 10315 (9-W EMA).
     
  • The index has once again taken support near 9- W EMA and slightly jumped from that level. It is currently trading around 10633.
     
  • Short term trend is slightly bullish as long as support 10315 (9-W EMA) holds.
     
  • On the lower side, any violation below 9- W EMA will drag the index further down till 10170 (55 W EMA)/10064 (21 W MA).
     
  • Any  break above 10750 will take the index till 11000/11432 (Nov 2015 high).

It is good to  buy on dips around 10500 with SL around 10315 for the TP of  10750/11000

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