FxWirePro: DAX30 faces strong resistance at 21- day MA, good to sell on rallies
Major support – 10300 (38.2% retracement of 10806 and 8695). Major resistance – 10593 (21- day MA). DAX30 has jumped sharply after making a low of 10321 on Sep 12th 2016. It is currently trading around 10438. On the lowe…
Major support – 10300 (38.2% retracement of 10806 and 8695).
Major resistance – 10593 (21- day MA).
DAX30 has jumped sharply after making a low of 10321 on Sep 12th 2016. It is currently trading around 10438.
On the lower side any break below 10300 will drag the index down till 10149 (100- day MA)/10028 (200- day MA).
The index major short-term resistance stands at 10593 (21- day MA) and any violation above 21- day MA will take the DAX to next immediate resistance at 10806 (Aug 15th 2016 high).
It is good to sell on rallies around 10490-10500 with SL around 10610 for the TP of 10050
