Major European Indices Technical Update

Germany DAX Index:

• Germany DAX index has made a low of 10612 (trend line joining 9301 and 9392 and 55 day W EMA)   and slightly recovered from that level. It has closed around 10680.
   
• Major support is around 10600-614(55 W EMA) and any break below will drag the index till 10550/10376.
   
• On the higher side major resistance is around 11080 (200 day MA) and break above confirms minor trend reversal a jump till 11200/11430 is possible.

It is good to sell on rallies around 10800-850 with SL around 11000 for the TP of 10610/10380.

UK FTSE 100:

• FTSE 100 has broken major trend line support 6125 and slightly recovered from that level. Short term trend is still weak as long as resistance 6200
   
• Any break above 6200 will take the index till 6235/6285/6300
   
• The pair's major support is around 6118 (yesterday's low) and break below targets 6089/6050.

It is good to sell on rallies around 6220-25 with SL around 6300 for the TP of 6120/6089/6051.

France CAC Index:

• CAC has declined till 4655 and slightly recovered from that level. It has closed around 4684.
   
• On the higher side minor resistance is around 4730 and any break above 4730 will take the index to next level 4750/ trend reversal only above 4860.
   
• The index support is at 4640 and below that level will target 4580/4550.

It is good to sell on rallies around 4750-60 with SL around 4805 for the TP of 4700/4645.