FxWirePro
Long

DAX faces major support at 9560, good to buy at dips

FX:GER30   DAX index of German listed shares
353 0 6
The index has broken major resistance 9830 (Jan 22nd high) and jumped till 9869.It is currently trading around 9780.

Any minor weakness can be seen only below 9560 (Kijun-Sen) and any break below 9560 will drag the index down till 9420/9300.

The minor support is around 9700/9610.

The major long term support is around 9250 and any close below 9250 will confirm further weakness, a decline till 9000/8800 is possible .

On the higher side resistance is around 9880 (Cloud bottom) and break above targets 10000/10165

It is good to buy at dips around 9700-9750 with SL around 9580 for the TP of 10000/10165.


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