FxWirePro: DAX30 trades higher, good to buy on dips
Major Resistance- 11500 Major support – 11270 (10- day MA) The index is showing a continues upside for the past three trading session and is trading well above Nov 2015 high.DAX30 jumped till 11475 at the time of writing…
The index is showing a continues upside for the past three trading session and is trading well above Nov 2015 high.DAX30 jumped till 11475 at the time of writing and is currently trading around 11473.
The index is facing short term resistance around 11500 and any break above will take the DAX till 11670 (5TH Aug 2016 high)/11805.
Minor term trend is bullish as long as support 11270 (10- day MA) holds.
On the lower side, minor support is around 11270 (7- day MA) and any break below 11270 will drag the index down till 10940 (21- day MA)/10800 (55- day EMA).
Short term weakness only below 10000.
It is good to buy on dips around 11350-380 with SL around 11200 for the TP of 11880.
