Daily Forecast - 04 November 2015

S&P December contract

S&P

Emini S&P bulls remain in control despite overbought conditions & holding above August highs at 2100/2104 re-targets 2107 then 2109/10. On a break higher today look for 2113/14 & July highs at 2125/26. If we continue higher this week look for June highs at 2127.50 then the all time high set in May at 2134.

First support at 2100 but a break below 2096 risks a slide to better support at 2087/86. This could hold the downside but further losses target 2081/80 then good support at 2075/74 for an excellent buying opportunity.


Dax December contract

Dax

Dax minor trend line resistance at 11020/030 is the first challenge for bulls today but strong resistance at 11065/075 could hold the rally at this stage. Shorts need stops above 11100. A break higher however is a buy signal again, targeting 11140/150 then major, major, MAJOR!!!! resistance at 11240/260.

Again any profit taking moves to the downside offer buying opportunities with first support at 10930/920 but below here risks 10880/870. Longs need stops below 10830. Further losses risks a slide to strong support at 10740/730. Only a close below 10660 turns the outlook negative.


Ftse December contract

Ftse

FTSE first resistance at 6380/90 of course but a break higher today would be a buy signal to target 6410 then 6432/35. If we continue higher this week look for a retest of October highs at 6467/68. Further gains then meet strong trend line resistance at 6495/6505.

Failure to beat 6380/90 risks a slide to 6348/46 then support at 6320/17. This could hold the downside once again but longs need stops below 6305 to re-target support at 6290/85.

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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