DAX 30 September held just below strong resistance at 15720/740 and broke 15580 was a sell signal targeting 15440/433, 15340/330 and support at 15275/255. We bounced just 12 ticks above. Anyone take 300 ticks profit on this trade?
Euro Stoxx 50 September topped exactly at first resistance at 4070/90 and crashed 120 ticks, to just 11 ticks above our lowest target of 3940/35.
FTSE 100 September crashed from strong resistance at 7090/7100 hitting targets of 7010/00 & 6945/35. 150 tick profit on the day?
Analysis
DAX first resistance at 15470/490. Stop above 15500. Second resistance at 15580/610. Stop above 15630. Strong resistance at last week’s high of 15720/740. A break higher can target the June high at 15800/805. Obviously a break above here is a medium term buy signal.
Holding first resistance at 15470/490 targets 15340/330. Support at last week’s low of 15275/255. A weekly close below here is a sell signal for the start of next week.
EuroStoxx September shorts at first resistance at 4070/90 worked perfectly, especially if you held them almost as far as the ultimate target of 3940/35. Gains are likely to be limited with first resistance at 4020/30. Above 4040 allows a recovery to 4060 with strong resistance at 4080/90. Stop above 4100.
A break below 3930 is a sell signal targeting 3910 & 3885/80.
FTSE 100 September held strong resistance at 7090/7100 to hit the lower target of 6945/35. We collapsed as far as 6911. Gains are likely to be limited. First resistance at 7000/7010 then strong resistance at 7035/45. Stop above 7065.
Below 6910 tests the June low at 6880/70. A weekly close below here is a sell signal for the start of the week.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.