• 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