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Short

DAX: Sell on rallies

FX:GER30   The DAX Index
219 0 7
Major resistance -10670 ( trend line joining 10777 and 10707).

Major support – 10415 (4 Hour Kijun-Sen).

Dax30             has once again retreated after jumping till 10648. It is currently trading around 10530.

On the lower side, the index has broken 100 -4 H MA and declined till 10486 at the time of writing.

The index should break below 10415 (4 Hour Kijun-Sen) for further decline till 10357( 61.8% retracement of 10182 and 10648)/10160 is possible.

DAX             formed a temporary top around 10777 and any further bullishness can be seen only above that level. The minor resistance is around 10650/10707.

It is good to sell on rallies around 10600-10650 with SL around 10777 for the TP of 10360/10160
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