- DAX30 has shown a minor recovery after forming a bottom around 12311. The index upside capped by 61.85 fibo and any minor bullishness can be seen only above that level. It is currently trading around 12448.
- The near term support is around 12300 and any daily close below that level will drag the index till 11945 (Apr 20th 2017 low)/11463 (Feb 7th 2017 low).
- On the higher side, temporary top formed around 12956 will be acting as major resistance and any further bullishness can be seen only above that level. The minor resistance is around 12574 (21- EMA)/12715 (61.8% retracement of 12956 and 12310).
It is good to sell on rallies around 12500-12525 with SL around 12715 for the TP of 11950/11480.