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- Pattern formed – Bearish AB=CD Pattern
- Potential reversal zone -10830
- DAX30 made a temporary top around 10830 and started to decline from that level. It is currently trading around 10732.
- The index took support around 55- 4H EMA and jumped slightly from that level. So short term bullishness only above 10830.
- Any violation above 10830 targets 11000. On the lower side, any break below 10640 will drag the index down till 10490/10347 (Oct 13th low).
It is good to sell on rallies around 10700-10720 with SL around 10835 for the TP of 10350
