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Short

DAX30 breaks major support at 55-day EMA,targets 10000

FX:GER30   DAX index of German listed shares
240 1 10
Major support – 10374 (55- day EMA ).

Major resistance – 10806.

DAX30             is trading weak for past three trading session .The index is trading near 55- day EMA and any break below confirms minor trend reversal, a decline till 10030 (200- day MA) is possible.

On the lower side any break below 10374 will drag the index down till 10149 (100- day MA)/10028 (200- day MA).

The index major short term resistance stands at 10510 (daily Kijun-Sen) and any violation above daily Tenken-Sen will take the DAX             to next immediate resistance at 10616 (21- day MA)/ 10806 (Aug 15th 2016 high)

It is good to sell on rallies around 10375-385 with SL around 10515 for the TP of 10050
It seemes to me DAX will grow cause it was reflected from the lower border of rising channel up to 11250?
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