DAX has jumped continuously for the past two months and hits fresh 2-1/2 years high at 13534 at Nov 7th 2017 and showing a minor decline from that level. It is currently trading around 13071.
The index dipped till 12961 yesterday and is shown a minor jump. The major support stands around 12897-12960 (55- day EMA and resistance turned into support) and nay violation below will drag the index to next level till 12750/12400/12284 (233- day MA).
On the higher side, 13500 will be acting as near term resistance and any break above will take the pair to next level till 13920 (161.8% retracement of 13524 and 12961)/14000.
It is good to sell on rallies around 13200-225 with SL around 13525 for the TP of 12900/12745.
The index dipped till 12961 yesterday and is shown a minor jump. The major support stands around 12897-12960 (55- day EMA and resistance turned into support) and nay violation below will drag the index to next level till 12750/12400/12284 (233- day MA).
On the higher side, 13500 will be acting as near term resistance and any break above will take the pair to next level till 13920 (161.8% retracement of 13524 and 12961)/14000.
It is good to sell on rallies around 13200-225 with SL around 13525 for the TP of 12900/12745.
