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Short

DAX30: Sell below breakout

FX:GER30   DAX index of German listed shares
341 0 9
Major resistance-10500

Major support – 10200

The index has almost formed triple bottom around 10200 and is consolidating around that level. DAX             is currently trading around 10212.

It has jumped till 10345 yesterday and started to decline once again in the morning. Short term trend is still weak as long as resistance 10500 holds.

Any violation below 10200 will drag the index down till 10000/9945/9820.

DAX             is slightly weak and is trading well below ichimoku (Tenken-Sen and Kijun-Sen).The minor bullishness can be seen only above 10345 (Kijun-Sen).Any break above targets 10500/10680.

It is good to sell below 10200 with SL around 10350 for the TP of 10000/9825.
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