FxWirePro: DAX30 trades higher, good to buy on dips
DAX index was trading higher on Friday and hits of 12551 and closed yesterday at 12544 0.95% higher. US markets was closed on the higher side with Dow (1.3% higher) and S&P500 (1.6% higher). S&P500 futures continuing its…
DAX index was trading higher on Friday and hits of 12551 and closed yesterday at 12544 0.95% higher. US markets was closed on the higher side with Dow (1.3% higher) and S&P500 (1.6% higher). S&P500 futures continuing its yesterday upside momentum and is trading at 2750 0.07% higher. Asian stock indices are trading higher on the footsteps of US markets.
DAX index broken the previous week high of 12535 made on Feb 16th 2018 and close slightly above that level has closed yesterday at 12535.
The minor bullishness can be seen only if it closes above 12660 (233- day MA) and any close above will take the index to next level till 12890/13050 (100- day MA). It should break above 13600 for further bullishness.
On the lower side, near term major support is around 11800 and any break 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 12000 for the TP of 12660/13000.
