DAX, EuroStoxx, FTSE Forecast
Jason Sen | Aug 12, 2021 04:13AM ET
DAX 30 September beat the all time high at 15770/800 to target 15870/890. We topped exactly here but outlook remains positive despite severely overbought conditions until we see a sell signal.
Euro Stoxx 50 September is struggling at strong resistance at 4200/05
FTSE 100 September hit the next target of 7135/45 as we look for a retest of the 2021 high at 7207/17.
h2 Today’s Analysis/h2DAX moved through 15770/800 for a buy signal, initially targeting 15870/890 (we topped exactly here) then 15920/940 and 15990. Minor support at 15800/770 then strong support at 15690/670. Longs need stops below 15610.
EuroStoxx September is testing strong resistance at 4200/05. A break higher is a strong buy signal initially targeting 4260/65. Minor support at 4170/65. Better support at 4145/40. Longs need stops below 4130.
FTSE September longs at strong support at 7030/20 hit the targets of 7080/90 and 7135/45 as we look for a retest the 2021 high at 7207/17. Obviously the main challenge for bulls today. Bulls need a weekly close above here tomorrow night for a new buy signal next week. First support at 7110/00, better support at 7075/65. Longs need stops below 7050.
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