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Short

DAX30 faces strong resistance at 10325, good to sell on rallies

FX:GER30   DAX index of German listed shares
182 0 6
Major resistance – 10325 (trend line joining 10875 and 10487)

Major support – 10000 (90 day EMA)

DAX             has pared its gains made on the past three trading session. The index has made a high of 10269 yesterday and declined from that level. It is currently trading around 10136.

Short term trend is still weak as long as resistance 10325. Any break above 10325 wil ltake the index till 10400/10500 in the short term. The index should close above 10500 for further up move .Any violation above 10500 will take the index till 10710.

On the lower side 90 day EMA is acting as major support and any break below targets 9825/9755 in short term.

It is good to sell on rallies around 10180-10200 with SL around 10325 for the TP of 10020/9830/9765
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