Major Resistance – 11700
Major intraday support – 11500 (Trend line joining 11412 and 11493).
DAX formed temporary top around 11695 on Jan 11th 2017 and showing a minor profit booking from that level. The index is currently trading around 11535.
The index major intraday support is around 11500 and any break below that level will drag the DAX till 11400 (Dec 30th low)/11198 (38.2% retracement of 10403 and 11695)/11054 (38.2% retracement of 11695 and 10025).
On the higher side, any break above 11695 will take the index to next level till 11824 (161.8% retracement of 11695 and 11493).
It is good to sell below 11500 with SL around 11700 for the TP of 11198/11057.
Major intraday support – 11500 (Trend line joining 11412 and 11493).
DAX formed temporary top around 11695 on Jan 11th 2017 and showing a minor profit booking from that level. The index is currently trading around 11535.
The index major intraday support is around 11500 and any break below that level will drag the DAX till 11400 (Dec 30th low)/11198 (38.2% retracement of 10403 and 11695)/11054 (38.2% retracement of 11695 and 10025).
On the higher side, any break above 11695 will take the index to next level till 11824 (161.8% retracement of 11695 and 11493).
It is good to sell below 11500 with SL around 11700 for the TP of 11198/11057.
