DAX, EuroStoxx, FTSE Forecast
Jason Sen | Oct 14, 2021 07:12AM ET
DAX December holding strong support at 15050/14950 so far this week for a bounce to minor resistance at 15250/270. A high for the day here yesterday.
EuroStoxx 50 December beats minor resistance at 4060/70 this morning to target strong resistance at 4110/20.
FTSE 100 December shorts at the selling opportunity at the September high at 7185/95 worked perfectly with a high for the day and a 35 tick sell off so far.
h2 Today’s Analysis/h2DAX hit and held resistance at 15250/270 for profit taking on our longs. We were seeing a break higher this morning to target 15380/40, perhaps as far as 15450/480. Minor support at 5270/250. Longs need stops below 15230 for a retest of strong support at 15050/14950. Longs need stops below 14900. Failure to hold above 14900 is a sell signal targeting 14800, 14670/650 and 14550/500.
EuroStoxx targets strong resistance at 4110/20 today. Shorts need stops above 4130. A break higher is a buy signal targeting 4160/70, perhaps as far as 4185/90. Minor support at 4070/60. Better support at 4025/15. Longs need stops below 4005. A break lower is a sell signal for today targeting 3980 before a retest of last week’s low at 3960/50.
FTSE shorts at the selling opportunity at 7185/95 target 7150/45 then first support at 7130/20 for profit taking. Further losses meet a buying opportunity at 7100/7080 with stops below 7060. Another selling opportunity is at 7185/95 with stops above 7220. A break higher is an important buy signal targeting 7260 and 7290/99.
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