Major support – 12040 (trend line joining 11463 and 11849).
The index has formed a temporary top around 12387 on Apr 3rd 2017 and declining from that level.
DAX30 is facing trend line support at 12040 and any close below will drag the pair down till 11849/11463.
The index should break above 12387 for further bullish continuation. Any break above 12387 will take the index till 12595 (161.8% retracement of 12387 and 12044).
The near term resistance is around 12254 (61.8% retracement of 12387 and 12044) and nay break above targets 12387.
It is good to sell below 12040 with SL around 12254 for the TP of 11850/11465.
The index has formed a temporary top around 12387 on Apr 3rd 2017 and declining from that level.
DAX30 is facing trend line support at 12040 and any close below will drag the pair down till 11849/11463.
The index should break above 12387 for further bullish continuation. Any break above 12387 will take the index till 12595 (161.8% retracement of 12387 and 12044).
The near term resistance is around 12254 (61.8% retracement of 12387 and 12044) and nay break above targets 12387.
It is good to sell below 12040 with SL around 12254 for the TP of 11850/11465.
