Major resistance- 10720 (trend line joining 10806 and 10777).
DAX index recovered from the low of 10354 made on Oct 13th. It is currently trading around 10660.
The index major resistance is around 10720 and any slight bullishness only above that level. Any break above confirms minor trend reversal and break above targets 10806.
Short term trend reversal only above 10806 and close above will take the index to next level till 11000.
On the lower side, support is around 10530 (21- day MA) and any violation below that support level will drag the index down till 10350/10270 (100- day MA).
It is good to sell on rallies around 10675-685 with SL around 10806 for the TP of 10350
DAX index recovered from the low of 10354 made on Oct 13th. It is currently trading around 10660.
The index major resistance is around 10720 and any slight bullishness only above that level. Any break above confirms minor trend reversal and break above targets 10806.
Short term trend reversal only above 10806 and close above will take the index to next level till 11000.
On the lower side, support is around 10530 (21- day MA) and any violation below that support level will drag the index down till 10350/10270 (100- day MA).
It is good to sell on rallies around 10675-685 with SL around 10806 for the TP of 10350
