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Short

DAX faces strong resistance 1000, good to sell on rallies

FX:GER30   DAX index of German listed shares
305 0 8
Major resistance- 9975 (55 day EMA )

Major support -9750

DAX             has made a high of 9963 and started to decline from that level. It is currently trading around 9845.

Short term trend is weak as long as resistance 9975 holds. Any short term bullishness can be seen only above 9975.

Any violation above 9975 will take the index till 10200/10500.

On the lower side 9750 is acting as major support and trading below that level will take the index till 9566/9440 ( Apr             2016 low).

It is good to sell on rallies around 9900 with SL around 10000 for the TP of 9750/9660/9566
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