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FxWirePro:DAX30 faces strong support at 11460, good to sell on rallies

  • Major resistance – 11892 (Jan 26th 2017 high)
     
  • Major support – 11460 (trend line joining 11401 and 11426)
     
  •  DAX30 formed temporary top around 11892 on Jan 26th 2017 high and declined slightly from that level. It is currently trading around 11523.
     
  • On the lower side, immediate support stands around 11460 and any break below targets 11170 (38.2% retracement of 10023 and 11892)/10735.
     
  • The major resistance is at temporary top formed at 11892 and any break above will take the index till 12155 (161.8% retracement of 11892 and 11463).The minor resistance is around 11727 (61.8% retracement of 11892 and 11463).

    It is good to sell on rallies around 11600-625 with SL around 11892 for the TP of 11170/10750.
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