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Add as a preferred source on Google 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 1063…
By FxWirePro Team Aug 30, 2016, 10:50 AM UTC
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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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