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Add as a preferred source on Google FxWirePro: DAX30 faces strong support at 200- HMA, good to sell on rallies Major intraday support – 10470 (200 HMA). The index has slightly recovered after making a low of 10514. It is currently trading around 10669. In the hourly chart, DAX is facing strong resistance at 10661 (100 H MA).Any b…
By FxWirePro Team Aug 18, 2016, 9:19 AM UTC
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Major intraday support – 10470 (200 HMA).
The index has slightly recovered after making a low of 10514. It is currently trading around 10669.
In the hourly chart, DAX is facing strong resistance at 10661 (100 H MA).Any break above will confirm minor bullishness.
Any break below 10470 will drag the index down till 10365 (61.8% retracement of 10093 and 10806)/10200.The minor support is around 10585 (9 day MA).
On the higher side, any break above 10665 will take the index to temporary top around 10806 and it should close above 10806 for further up move.
It is good to sell on rallies around 10660-670 with SL around 10810 for the TP of 10455/10365/10240
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