- Major support -9730 (May 6th low)
- The index has broken major support 9730 and declined till 9658 at the time of writing. It is currently trading around 9681.
- Short term trend is weak as long as resistance 10020 (90 day EMA) holds.
- On the higher side minor resistance is around 9825 (hourly Tenkan-Sen) and any break above targets 9950 (hourly Kijun-Sen)/10020.
- Short term bullishness only above 10300 (trend line joining 10876 and 10487).
- The DAX’S support is around 9650 (1.13% retracement of 9733 and 10374) and any violation below will drag the index to immediate support 9559/9441 (Apr 7th 2016 low).
It is good to sell on rallies around 9780-9800 with SL around 9950 for the TP of 9560/9445
