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FxWirePro:DAX30 struggles to close above 10000, good to buy at dips

  • Major resistance – 10000 (close above 10000)
     
  • Major support -9780 (55 day EMA)
     
  • The index has taken support near 9750 55 day EMA) and jumped till 10098 at the time of writing. It is currently trading around 10003.
     
  • Short term trend is bullish as long as support 9780 holds.
     
  • Any break below 9780 will drag the index down till 9720/9640.
     
  • On the higher side any close above 10000 will take the index to next level till 10165/10400.
     
  • Short term bullish invalidation only below 9300.

It is good to buy at dips around 9950 with SL around 9780 for the TP of 10400

 

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