FxWirePro:DAX30 forms shooting star in 4H chart,good to sell on rallies
Chart pattern – shooting star Major resistance – 12175 (161.8% retracement of 11892 and 11463). The index has shown a mild jump till 12033 after breaking above 12000 level. DAX is curtly trading around 11986. On the lowe…
Major resistance – 12175 (161.8% retracement of 11892 and 11463).
The index has shown a mild jump till 12033 after breaking above 12000 level. DAX is curtly trading around 11986.
On the lower side, immediate support is around 11955 (10- day EMA) and any violation below will drag the pair down till 11895 (23.6% retracement of 11463 and 12033)/11787 (55- 4H EMA)/11597 (200- 4H MA).
Major resistance is around 12033 and any break above targets 12175 (161.8% retracement of 11892 and 11463).
It is good sell on rallies around 11980-12000 with SL around 12175 for the TP of 11600/11465.
