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Short

DAX30: Sell on rallies

FX:GER30   DAX index of German listed shares
273 0 12
Major intraday support – 10490 (200 HMA).

The index has declined till 10497 at the time of writing and is currently trading around 10515.

In the hourly chart, DAX             is facing strong resistance at 10650 (100 H MA).Any break above will confirm minor bullishness.

Any break below 10490 (200 HMA) will drag the index down till 10365 (61.8% retracement of 10093 and 10806)/10200.The minor support is around 10585 (9 day MA).

On the higher side,any break above 10665 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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