Major resistance - 11680
DAX is trading higher and has broken major resistance around 11680 after long consolidation.Global stock market continues to trade with positive bias on increasing risk appetite on positive Brexit news and slightly easing US-China trade tensions. UK Parliament yesterday voted for extension of Article 50 deadline at the EU summit and won with absolute majority of 412. Markets eye UK Parliament vote on Wednesday on Theresa May Brexit deal after it got rejected for two times. It hits intraday high of 11725 and is currently trading around 11685.
After break below 11515 (20- day MA) will drag the index till till 11400 (38.2% fib)/11190 (100- day MA)/11000.Major weakness only below 10800.
The index is hovering near 11680 and this confirms major bullishness and a jump till 11800/12000.
It is good to buy on dips around 11515-530 with SL around 11400 for the TP of 11990.
