Daily Forecast - 23 December 2015
Eurostoxx March contract
EuroStoxx bounced from the 3179/76 level right back up to resistance at 3235/30. Holding below here today re-targets 3215/13 then only minor support at 3195. Further losses could retest 3179/76. A break below here today sees 3164/60, perhaps as far as December lows at 3136/33.
First resistance at 3235/30 but above here is more positive & re-targets minor resistance at 3245. On a break higher today look for slightly stronger resistance at 3265/62. Further gains again target resistance at 3290/95 which could see a high for the day. Shorts need stops above 3305. A break higher targets 3320/25 then resistance at 3236/39. Shorts need stops above 3348.
Ftse March contract
FTSE holding above 6045 is positive for today & if we can beat 6075 we should test resistance at 6105/10. A break above 6120 however signals a move towards 6050/55 then strong resistance at 6170/75.
First support at 6040/35 is probably the most important of the day. Below here however re-targets 6010/20 then 5970/65. If we continue lower look for good support at 5949/45.
Dax March contract
Dax bounced back to yesterday's first resistance at 10550/560 in to the close. Above here today re-targets 10620/630 then stronger resistance at 10660/670. This should act as the main challenge for bulls again today but shorts need stops above 10700. A break higher targets 10735 then resistance at 10770/780. Further gains this week could target last week's high at 10825/835. A break above 10860 signals a move towards minor resistance at 10870/880 then very strong resistance at 10930/935 for a selling opportunity.
Failure to beat 10620/630 targets 10550/560 then minor support at 10480/470. If we continue lower look for 10430/425 then minor support at 10395/390. On a break lower today look for the next target of 10330/320 before support at 10270/260. If this does not hold the downside look for 10210/200 as the next target.
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