Friday, October 16, 2026

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FxWirePro: DAX30 faces strong resistance at 10830, good to sell on rallies

Major resistance- 10830 (Oct 25th 2016 high) Major support – 10550 (50- day MA) DAX30 has once again retreated after jumping till 10783.It is currently trading around 10644. Short term trend is still bearish as long as r…

By FxWirePro Team
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FxWirePro: DAX30 faces strong resistance at 10830, good to sell on rallies
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  • Major resistance- 10830 (Oct 25th 2016 high)
     
  • Major support – 10550 (50- day MA)
     
  • DAX30 has once again retreated after jumping till 10783.It is currently trading around 10644.
     
  • Short term trend is still bearish as long as resistance 10830 holds.
     
  • Any violation below 10550 will drag the index down till 10410 (100- day MA)/10126 (200- day MA)/9910 in the short term.
     
  • On the higher side, any break above 10830 will take the index to next level 11000/11327 (161.8% retracement of 10830 and 10025).

    It is good to sell on rallies around 10700-720 with SL around 10370 for the TP of 11000/11320

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By FxWirePro Team