Dax, Euro Stoxx 50 And FTSE Forecast
Jason Sen | Jul 16, 2021 02:42AM ET
Dax 30 September held resistance at the June high at 15800/805 targeting best support at 15610/590. Longs need stops below 15570.
Euro Stoxx 50 September topped exactly at strong resistance at 4080/90 with shorts offered a minimum 30 ticks on the slide to 4060/50.
FTSE 100 September reversed from minor resistance at 7045/55 & collapsed through minor support at 7010/00 targeting 6975/65 and minor support at 6935/25.
h2 Today’s Analysis/h2Dax bottomed exactly at best support at 15610/590. Longs need stops below 15570. A break lower risks a slide to 15490/470. Longs need stops below 15440. Further losses risks a retest of the June and July low at 15290/255.
Longs at best support at 15610/590 target 15700/710 before strong resistance at June high at 15800/80. Shorts need stops above 15830. Obviously a break above here is a medium term buy signal today initially targeting 16000/16100.
Euro Stoxx 50 September held strong resistance at 4080/90 targeting 4060/50. Holding below here targets 4020, perhaps as far as 4000/3990. On further losses look for a retest of 3940/35. A break below 3930 is a sell signal targeting 3910 and 3885/80.
Strong resistance at 4080/90. Stop above 4100. A break higher is a buy signal targeting 4120/25 and 4145/50.
FTSE September collapsed to minor support at 6935/25 and bottomed exactly here. Below 6910 tests the June low at 6880/70. A weekly close below here is a sell signal for the start of next week.
First resistance at 7000/7020. Strong resistance at 7045/55. Shorts need stops above 7070.
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