Major European Indices Technical Update

Germany DAX Index:

• Germany DAX index has broken the major support of 10612 (trend line joining 9301 and 9392 and 55 day W EMA)   and declined till 10442 from that level. It has closed around 10515.
   
• Break below 10600 confirms minor trend reversal a decline till 10370/10000 cannot be ruled out .
   
• On the higher side major resistance is around 10800 (200 day 4 H MA) and break above confirms minor trend reversal a jump till 11000/11200 is possible.

It is good to sell on rallies around 10600-650 with SL around 10800 for the TP of 10610/10380.

UK FTSE 100:

• FTSE 100 has broken major trend line support 6125 and declined till 6050. Short term trend is still weak as long as resistance 6180 holds.
   
• Any break above 6180 will take the index till 6235/6285/6300. The minor resistance is around 6120/6150
   
• The pair's major support is around 6050 (Nov 16th low) and break below targets 6000/5925.

It is good to sell on rallies around 6130-40 with SL around 6181 for the TP of 6055/6000

France CAC Index:

• CAC has broken major support 4640 and declined till 4570 from that level. It has closed around 4600.
   
• On the higher side minor resistance is around 4730 and any break above 4730 will take the index to next level 4805/ trend reversal only above 4860.
   
• The index support is at 4570 and below that level will target 4518/4380.

It is good to sell on rallies around 4660-70 with SL around 4730 for the TP of 4570/4520.