- 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