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- Harmonic pattern formed- Bullish Gartley pattern.
- Potential Reversal Zone (PRZ) - 11856.
- DAX declined sharply after forming a temporary top at 12956 on Jun 20th 2017 and started to decline from that level. The index declined till 12083 on Jul 31st 2017 low. It is currently trading around 12180.
- The index has formed bullish Gartley pattern in daily Chart and any potential reversal zone is 11800 and any minor weakness can be seen below that level.
- On the higher side, near term resistance is around 12210 and any break above will take the index till 12342 (Jul 26th 2017 high)/12575 (Jul 20th 2017 high)/12673.The index should break above 12956 for bullish continuation.
- The near term support is around 12080 and any break below will drag the index down till 12000/11856.
It is good to buy on dips around 12050 with SL around 11850 for the TP of 12340/12570
