DAX breaks major trend line support 10630, targets 10000
Germany DAX index has broken the major support of 10612 (trend line joining 9301 and 9392 and 55 day W EMA) and declined till 10442 from that level. It has closed around 10515.
Break below 10600 confirms minor trend reversal a decline till 10370/10000 cannot be ruled out .
On the higher side major resistance is around 10800 (200 day 4 H MA) and break above confirms minor trend reversal a jump till 11000/11200 is possible.
It is good to sell on rallies around 10600-650 with SL around 10800 for the TP of 10610/10380.
Break below 10600 confirms minor trend reversal a decline till 10370/10000 cannot be ruled out .
On the higher side major resistance is around 10800 (200 day 4 H MA) and break above confirms minor trend reversal a jump till 11000/11200 is possible.
It is good to sell on rallies around 10600-650 with SL around 10800 for the TP of 10610/10380.
