DAX, EuroStoxx, FTSE Forecast
Jason Sen | Aug 18, 2021 06:01AM ET
DAX 30 September bottomed exactly at strong support at 15800/770. If you managed to jump in to a long, there is a 150 tick profit this morning.
EuroStoxx 50 September dipped to 4167.
FTSE 100 September longs at our buying opportunity at 7085/75 worked perfectly on the bounce to 7165 this morning.
h2 Today’s Analysis/h2DAX downside is expected to be limited with minor support at 15890/870, then better support at 15800/770. Longs need stops below 15730. Strong support at 15670/630. Stop below 15595. Holding minor support at 15890/870 targets 15920/940 and 15990. A break above the all time high at 16024 targets 16100/110. Further gains this week target 16210/230.
EuroStoxx September first support at 4185, better support at 4160/55. Longs need stops below 4145. A break lower meets a buying opportunity at 4115/05. Longs need stops below 4095. Minor resistance at 4205/10. A break higher retests 4234/38. Above 4240 look for 4260/65.
FTSE September longs at 7085/75 target 7135/45 and 7178/88 (nearly there this morning), before a retest of the 2021 high at 7207/17. A break above 7230 is a new buy signal initially targeting 7290/7310. Again, a buying opportunity at 7085/75, stop below 7070. A break lower is a sell signal targeting strong support at 7020/00. Longs need stops below 6980.
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