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Long

DAX30 forms Bullish Bat Pattern, good to buy at dips

FX:GER30   DAX index of German listed shares
280 0 3
Harmonic Pattern formed – Bullish Bat Pattern

Potential reversal Zone (PRZ) – 9395

The index has made a low of 9501 and slightly recovered from that level. It is currently trading around 9667.

Short term trend is slightly bullish as long as support 9395 holds.

Any break below 9395 will drag the index down till 9300/9125.The minor support is around 9500.

On the higher side resistance is around 9620 and any break above will take the index till 9705 (4H Tenken-Sen)/9807/9880.

It is good to buy at dips around 9510-9520 with SL around 9395 for the TP of 9800/9880.

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