Thursday, October 15, 2026

Technicals

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FxWirePro: DAX30 struggles to close above 10800, good to buy on dips

Major resistance- 10830 (Oct 25th 2016 high). Major support – 10550 (50- day MA). DAX30 is facing strong resistance around 10830 and any trend reversal can happen only above that level. It is currently trading around 107…

By FxWirePro Team
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FxWirePro: DAX30 struggles to close above 10800, good to buy on dips
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  • Major resistance- 10830 (Oct 25th 2016 high).
     
  • Major support – 10550 (50- day MA).
     
  • DAX30 is facing strong resistance around 10830 and any trend reversal can happen only above that level. It is currently trading around 10709.
     
  • Short term trend is still bullish as long as support 10370 (100- day MA) holds.
     
  • Any violation below 10370 will drag the index down till 10000/9910 in the short term.
     
  • On the higher side, any break above 10830 will take the index to next level 11000/11327 (161.8% retracement of 10830 and 10025).

    It is good to buy on dips around 10650 with SL around 10370 for the TP of 11000/11320

 

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By FxWirePro Team