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FxWirePro:DAX30 forms shooting star in the daily chart , good to sell on rallies

Monday, January 30, 2017 11:35 AM UTC

Candlestick pattern- Shooting star.
Major support – 11400
DAX30 formed a top around 11892 on Jan 26th 2017 and started to decline from that level. It is currently trading around 11725.
In the daily chart the index formed shooting star candle stick pattern and slight bullishness can be seen only above the high of 11892.
On the higher side, any break above 11900 will take the index till 11999 (161.8% retracement of 11892 and 11714)/12050 (Apr 22nd 2015 high).

It is good to sell on rallies around 11750-760 with SL around 11900 for the TP of 11400/11250.

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FxWirePro:DAX30 forms shooting star in the daily chart , good to sell on rallies

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