DAX, EuroStoxx, FTSE Forecast
Jason Sen | Jul 11, 2021 02:00AM ET
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?
h2 Analysis/h2DAX 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.
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