DAX faces strong support at 9300, break below targets 9069/8800
Major support – 9300 (Sep 2015 low)
Major short term resistance -9795 (Daily Tenken-Sen)
The index has made a high of 9757 yesterday and started to decline from that level. Short term weakness can be seen only below 9300 level.
Any break below will drag the index down till 9069 (200 W MA)/8880.
The major long term support is around 9000 and any close below 9000 will confirm further weakness , a decline till 8350/8000 is possible .
Short term bullishness can be seen only above 9800 and above that level index will reach till 10000/10165.The minor resistance is around 9655.
It is good to sell only below 9300 with SL around 9655 for the TP of 9069/8800/8355.
Or
Buy above 9655 with SL around 9500 for the TP of 9790/10165.
Major short term resistance -9795 (Daily Tenken-Sen)
The index has made a high of 9757 yesterday and started to decline from that level. Short term weakness can be seen only below 9300 level.
Any break below will drag the index down till 9069 (200 W MA)/8880.
The major long term support is around 9000 and any close below 9000 will confirm further weakness , a decline till 8350/8000 is possible .
Short term bullishness can be seen only above 9800 and above that level index will reach till 10000/10165.The minor resistance is around 9655.
It is good to sell only below 9300 with SL around 9655 for the TP of 9069/8800/8355.
Or
Buy above 9655 with SL around 9500 for the TP of 9790/10165.