DAX30 :Buy above breakout (9550)
Pattern formed- Double bottom
Major intraday resistance- 9550 (hourly Kijun-Sen)
DAX30 made a low of 9434 at the time of writing and jumped from that level. It is currently trading at 9515.
The index should break above 9550 for bullish confirmation. Any indicative break above 9550 (hourly Tenken-Sen) will take the index to immediate resistance 9667 (yesterday High)/9750 (support turned into resistance).
On the lower side, break below 9440 will drag the index down till 9360 (161.8% retracement of 9733 and 10374).
It is good to buy above 9550 with SL around 9440 for the TP of 9665/9750.
Major intraday resistance- 9550 (hourly Kijun-Sen)
DAX30 made a low of 9434 at the time of writing and jumped from that level. It is currently trading at 9515.
The index should break above 9550 for bullish confirmation. Any indicative break above 9550 (hourly Tenken-Sen) will take the index to immediate resistance 9667 (yesterday High)/9750 (support turned into resistance).
On the lower side, break below 9440 will drag the index down till 9360 (161.8% retracement of 9733 and 10374).
It is good to buy above 9550 with SL around 9440 for the TP of 9665/9750.