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

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…

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