Daily Analysis of DAX for March 30, 2016
On the H1 chart, the DAX had a strong decline held since the March 23th session and we're seeing a consolidation above the 200 SMA, where it's finding dynamic support. If we follow the fractal rules of the market, we can expect a rally towards the resistance level of 9954, after a successful breakout above the 9904 pivot point level.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the DAX breaks a bullish candlestick; the resistance level is at 9904, take profit is at 9954, and stop loss is at 9856.
The material has been provided by InstaForex Company - www.instaforex.com
