DAX takes support near trend line ,good to sell on rallies
Germany DAX index has made a temporary top around 11430 and declining heavily from that level. The index declined till 10664 and slightly recovered from that level and closed around 10923.
Major support is around 10620 (trend line joining 9301 and 9392 and 55 day W EMA) and break below will drag the index till 10550/10376.
On the higher side major resistance is around 11100 and break above confirms minor trend reversal a jump till 11200/11430 is possible.
It is good to sell on rallies around 10950-11000 with SL around 11150 for the TP of 10620/10550.
Major support is around 10620 (trend line joining 9301 and 9392 and 55 day W EMA) and break below will drag the index till 10550/10376.
On the higher side major resistance is around 11100 and break above confirms minor trend reversal a jump till 11200/11430 is possible.
It is good to sell on rallies around 10950-11000 with SL around 11150 for the TP of 10620/10550.
