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DAX30 forms bearish BAT pattern, good to sell on rallies

FX:GER30   DAX index of German listed shares
278 0 10
Harmonic Pattern formed- Bearish Bat pattern

Potential reversal zone (PRZ)- 10487 (Apr 21st high)

The index has made high of 10374 yesterday and started to decline from that level. It is currently trading around 10224.

Short term trend is weak as long as resistance 10487 holds. Any indicative break above 10487 will take the index up till 10840/11000.

On the lower side support is around 10120 and any break below will drag the index down till 10000/9900/9810.

It is good to sell on rallies around 10250-10300 with SL around 10500 for the TP of 10000/9810.
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