FxWirePro: DAX30 forms descending triangle pattern, good to buy on dips

• Pattern formed- Descending triangle pattern
   
• Major support – 11935
   
• The index is showing a minor jump after forming a bottom at 11936 on Aug 11th 2017. DAX jumped till 12292 and is currently trading around 12151.
   
• On the higher side, minor jump can be seen if it breaks above 12310 (trend line joining 12956 and 12673) and any break above will take the index till 12420 (200- 4H MA)/12574 (61.8% retracement of 12956 and 11935).
   
• The index has formed descending triangle pattern and major support is around 11935 and any break below will drag the index down till 11719/11400.

It is good to sell on rallies around 12270-12300 with SL around 12420 for the TP of 11935/11420.