- Major support – 11840.
- The index has formed a minor bottom at 11867 and jumped slightly from that level. DAX jumped till 12292 and is currently trading around 12151.
- On the higher side, minor jump can be seen if it breaks above 12220 (trend line joining 12956 and 12673) and any break above will take the index till 12325 (38.2% retracement of 12956 and 11867)/12574 (Jul 20th 2017 high).
- The index bearish continuation can be seen only below 11840.Any break below will drag the DAX down till 11420.
It is good to sell on rallies around 12220-12250 with SL around 12420 for the TP of 11935/11420.
