- DAX index was trading flat yesterday after hitting high of 12479 and closed slightly higher at 12399 0.04% lower. US markets has shown a minor decline and investors assessing US trade policy.S&P500 futures is trading flat at 2784 0.06% higher and traders eyes US CPI data to be released today for further direction. Asian stock indices is in consolidation phase due to flat US markets.
- DAX index has formed a minor top around 12605 and started to decline from that level. The index should close above 200- day MA at 12723 for further bullishness.
- The minor bullishness can be seen only if it closes above 12320 (10- day MA) and any close above will take the index to next level till 12500/12605. It should break above 12740 for further bullishness.
- On the lower side, near term major support is around 11800 and any close below will drag the index till 11400/11000.The minor support is around 12000.
It is good to buy on dips around 12200-250 with SL around 11975 for the TP of 12660/12740.
