DAX30 is trading higher after breaking high of 11500 following footsteps of Asian markets. Asian markets is trading higher especially Shanghai jumped more than 5% on US-China trade talks progress. US President suspends China trade tariff hike and Trump tweeted that US has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer etc.The index hits high of 11541 and is currently trading around 11514.
Technically the index is trading above psychological resistance at 11500 and this confirms minor bullishness and a jump till 11684 is possible.
On the lower side near term support is around 11378 (23.6% fib) and any break below will drag the index down till 11333(7-day MA)/11267 (10- day MA)/11228.
It is good to buy on dips around 11375-80 with SL around 11265 for the TP of 11580/11685.
