FxWirePro: DAX30 Struggles to Close Above 9800, Good to Buy at Dips

FxWirePro: DAX30 Struggles to Close Above 9800, Good to Buy at Dips

4 July 2016, 10:16
Roberto Jacobs
0
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FxWirePro: DAX30 Struggles to Close Above 9800, Good to Buy at Dips

  • Major resistance – 9815 (90 4H EMA) 
  • The index has broken psychological resistance at 9800 and jumped till 9812 at the time of writing. It is currently trading around 9769. 
  • DAX30 should close above 9815 for further bullishness. Any break above 9815 will take the index till 9970 (200 4H MA)/10084 (200 day MA)/10300. 
  • On the lower side, minor support is around 9659 (4 H Tenkan-Sen)/9572/9510 (yesterday low). 
  • Short term weakness only below 9400 (61.8% retracement of 9161 and 9795).

It is good to buy at dips around 9725-9730 with SL around 9660 for TP of 9970/10084.

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