DAX30 breaks major support at 55-day EMA, decline till 10000 likely

12 September 2016, 14:39
Eko Rediantoro
0
22

  • Major support – 10374 (55- day EMA).
     
  • Major resistance – 10806
     
  • DAX30 is trading weak for past three trading session .The index is trading near 55- day EMA and any break below confirms minor trend reversal, a decline till 10030 (200- day MA)  possible.
  • On the lower side, any break below 10374 will drag the index down till 10149 (100- day MA)/10028 (200- day MA).
     
  • The index major short-term resistance stands at 10510 (daily Kijun-Sen) and any violation above daily Tenken-Sen will take the DAX to next immediate resistance at 10616 (21- day MA)/ 10806 (Aug 15th 2016 high)

 It is good to sell on rallies around 10375-385 with SL around 10515 for the TP of 10050


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