DAX index has declined almost 500 points from the minor top at 12649 made yesterday. S&P500 declined sharply till 2581 almost 3.75% yesterday closed at day’s low. But S&P futures is trading slightly positive. Overall trend is still weak and any break below 2531 confirms further bearish continuation.
DAX index declined more than 3% yesterday and is currently trading around 12035.
The minor bullishness can be seen only if it closes above 12660 (233- day MA) and any close above will take the index to next level till 12890/13050 (100- day MA). It should break above 13600 for further bullishness.
On the lower side, near term major support is around 11800 and any break below will drag the index till 11400/11000.
It is good to sell on rallies around 12350-400 with SL around 12660 for the TP of 11860/11375.
DAX index declined more than 3% yesterday and is currently trading around 12035.
The minor bullishness can be seen only if it closes above 12660 (233- day MA) and any close above will take the index to next level till 12890/13050 (100- day MA). It should break above 13600 for further bullishness.
On the lower side, near term major support is around 11800 and any break below will drag the index till 11400/11000.
It is good to sell on rallies around 12350-400 with SL around 12660 for the TP of 11860/11375.