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Short

DAX faces strong resistance at 9760, good to sell on rallies

FX:GER30   DAX index of German listed shares
188 1 3
Major resistance- 9761 (7 day EMA )

Major support -9430

DAX             has recovered sharply from the yesterday low of 9431 and jumped till 9674 at the time of writing. It is currently trading around 9641.

The selling from 10374 to 9430 will be completed if the index breaks above 9761.

Any break above 9761 will take the DAX             till 9825/9900 in the short term. On the lower side , any break below 9550 will drag the pair down till 9500/9430/9345/9300.

Overall bearish invalidation only above 10500.

It is good to sell on rallies around 9670-9680 with SL around 9760 for the TP of 9530/9430/9350
Still recommend a short on 9670-9680 levels?
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