DAX
GER30
GER30 - Intraday - We look to Sell at 12225 (stop at 12300)
Although an initial rally was posted, sellers emerged and follow through bearish momentum resulted in all the previous day's gains being overturned. Previous support level of 12200 broken. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. A break of 12100 is needed to confirm follow through negative momentum. A bearish Head and Shoulders has formed. Preferred trade is to sell into rallies.
Our profit targets will be 12000 and 11925
Resistance: 12225 / 12300 / 12375
Support: 12100 / 12000 / 11925
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