DAX30 struggles to close above 9800

July 4, 2016

Major resistance - 9815 (90 4H EMA). The index has broken psychological resistance at 9800 and jumped till 9812 at the time of writing. It is currently trading around 9769. DAX30 should close above 9815 for further bullishness.

Any break above 9815 will take the index till 9970 (200 4H MA)/10084 (200 day MA)/10300. On the lower side, minor support is around 9659 (4 H Tenkan-Sen)/9572/9510 (yesterday low). Short term weakness only below 9400 (61.8% retracement of 9161 and 9795).

It is good to buy at dips around 9725-9730 with SL around 9660 for TP of 9970/10084.

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