FxWirePro: DAX30 closes above 100- HMA, good to buy on dips
Major resistance- 10547 (100- HMA). Major support - 10350 (61.8% retracement of 10093 and 10806). The index has taken support near 61.8% retracement and started to jump sharply from that level. It is currently trading ar…
Major support - 10350 (61.8% retracement of 10093 and 10806).
The index has taken support near 61.8% retracement and started to jump sharply from that level. It is currently trading around 10559.
In the hourly chart ,the index is trading well above Tenkan-Sen (10450) and Kijun-Sen (10461).It has also broken 200-HMA level (10515).Short term trend is slightly bullish, a jump till 10700/10806 is possible.
On the lower side, support stands at 10450 and any violation below will drag the pair till 10350/10300 (trend line joining 9302 and 10182).
It is good to buy on dips around 10540 with SL around 10445 for the TP of 10705/10806.
