DAX Monthly-achieevd downisde tgt 10400 next support tgt 10150

DAX index monthly chart technical analysis November 2016 DAX index monthly chart technical analysis November 2016 DAX index on last trading session closed at 10370 with huge loss. Dax in month of November breached its major pivot support of 10600 and given fresh sell signal. Dax major downside were 10400 and then 10150 and these are monthly target zones out of which 10400 got achieved.   DAX November monthly trend and momentum both are down but technically oversold so expect sharp value buying as well as short covering on lower levels. On upside 10600 remain as major hurdle. Weekly closing above 10600 mean fresh breakout and trend change for this index. Above 10600, dax will face strong resistances at 10880 and then 11100. These will be target zones on treed reversal.   DAX weekly chart showing it is failed to cross 10850 long term resistance which eventually resulted in sell off and long term trend remain down. Below 10850, dax remain weak and expect downside target of 9250 and below in longer terms.

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