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FxWirePro: DAX faces strong support at 9300, good to buy at dips

  • Major support: 9300 (29th Sep low)
     
  • DAX has made a low of 9410 and slightly recovered from that level. It is currently trading around 9562.
     
  • Short term trend is slightly bullish as long as support 9300 holds.
  • Any break below 9300 will drag the index down till 9216/9120/9000.
     
  • On the higher side resistance is around 9605 and break above targets 9769/9865.
     
  • Overall trend reversal only above 10200.

It is good to buy at dips around 9450 with SL around 9300 for the TP of 9750/9845

 

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