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 currentl…
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.
