- DAX index inched higher after a forming a minor bottom around 11703. The index recovered sharply on Mar 29th 2018 and jumped almost 1.49%. US indices S&P 500 and Dow jones has taken support near 200- day MA and shown a good jump. S&P500 futures is trading flat after a more than 1% jump on Thursday and is trading around 2639 0.07% higher. Asian stock indices trading higher mainly Chinese market despite tariffs against U.S.
- DAX index jumped more than 4.5% form the temporary low and any major weakness can be seen below 11705 low made on Mar 26th 2018.
- The minor bullishness can be seen only if it breaks 12165 (20- day MA) and any close above will take the index to next level till 12256 (61.8% fibo)/12480/12605. It should break above 12715 for further bullishness.
- On the lower side, near term major support is around 11800 and any close below will drag the index till 11400/11000.The minor support is around 12000.
It is good to buy on dips around 12000-50 with SL around 11800 for the TP of 12250/12480.
