DAX faces strong support at 9300, break below targets 9069/8800

• Major support - 9300 (Sep 2015 low)
  
  
• Major short term resistance -9795 (Daily Tenken-Sen)
  
  
• The index has made a high of 9757 yesterday and started to decline from that level. Short term weakness can be seen only below 9300 level.
  
  
• Any break below will drag the index down till 9069 (200 W MA)/8880.
  
  
• The major long term support is around 9000 and any close below 9000 will confirm further weakness , a decline till 8350/8000 is possible .
  
  
• Short term bullishness can be seen only above 9800 and above that level index will reach till 10000/ minor resistance is around 9655.

It is good to sell only below 9300 with SL around 9655 for the TP of 9069/8800/8355.

Or

Buy above 9800 with SL around 9500 for the TP of 10165/10400.