Major European Indices technical analysis

Germany DAX Index:

• Germany DAX index has made a temporary top around 11430 and declining heavily from that level. The index declined till 10664 and slightly recovered from that level and closed around 10923.
   
• Major support is around 10620 (trend line joining 9301 and 9392 and 55 day W EMA) and break below will drag the index till 10550/10376.
   
• On the higher side major resistance is around 11100 and break above confirms minor trend reversal a jump till 11200/11430 is possible.
   
• It is good to sell on rallies around 10950-11000 with SL around 11150 for the TP of 10620/10550.

UK FTSE 100:

• FTSE 100 has slightly recovered till 6295 yesterday and declined from that level. Short term trend is still weak as long as resistance 6350 holds.
   
• On the higher side minor resistance is around 6300 and break above targets 6320/6350.
   
• The pair's major support is around 6196 (61.8% retracement of 6050 and 6447) and break below targets 6138/6089. Short term trend reversal below 6050 level.
   
• It is good to sell on rallies around 6280-85 with SL around 6351 for the TP of 6196/6138.

France CAC Index:

• CAC has taken support around 4659 and slightly recovered till 4805 from that level. Short term trend is slightly weak as long as resistance 4860 holds.
   
• On the higher side any break above 4860 will take the index to next level 4905/4945.
   
• The index support is at 4640 and below that level will target 4580/4550.

It is good to sell on rallies around 4795-4800 with SL around 4860 for the TP of 4700/4645.