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Short

DAX30: Sell on rallies

FX:GER30   DAX index of German listed shares
297 0 11
Major support – 10365 ( 61.8% retracement of 10093 and 10806)

The index has declined after gaining till 10626 yesterday and is currently trading around 10560.

In the hourly chart DAX             is trading slightly above Kijun-Sen (10522).It should close above 10625 for slight jump till 10806.

Any break below 10550 (200 HMA ) will drag the index down till 10365 ( 61.8% retracement of 10093 and 10806).Minor weakness can be seen only below 10365 and break below targets 10200/10095 in the short term.

On the higher side any break above 10630 will take the index to temporary top around 10806 and it should close above 10806 for further up move.

It is good to sell on rallies around 10630-650 with SL around 10810 for the TP of 10455/10365/10240.
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