FxWirePro:DAX30 faces strong trend line support at 10400, good to buy on dips
Monday, December 5, 2016 8:56 AM UTC
- Major support – 10400 (trend line joining 9302 and 10200)
- The index jumped sharply after taking support near trend line and jumped sharply from that level. It is currently trading around 10710.
- On the lower side, any break below 10400 will drag the index down till 10025 (Nov 9th low)/9911 (Jul 19th 2016 low).
The major resistance is around 10830 and any violation above targets 11000 .
- Short term weakness only below 10000.
It is good to buy on dips around 10580-600 with SL around 10400 for the TP of 11000