German Dax Struggles to Break Above Channel Resistance, Decline Till 10560 Is Possible

  • DAX has retreated after hitting channel resistance 11600 and short term trend is weak as long as minor resistance 11325 holds.
  • Any break above 11325 will take the index to next target at 11410/11500/11595.
  • On the downside break below 11000 will drag the index further down till 10800/10550 in short term.

It is good to sell on rallies around 11160-190 with SL around 11325 for the TP of 10560.

The material has been provided by InstaForex Company – www.instaforex.com

Tags: