Daily Forecast - 08 April 2016
Dax June Contract
Dax will need to beat 9535/40 for any chance of a recovery today & target first resistance at 9620/30. We should struggle here & could turn lower again but a break above 9660 could take us as far as yesterday's high at 9725/35. Try shorts with stops above 9760.
Failure to beat 9535/40 re-targets yesterday's low at 9473. This is not much of a support so be ready to sell a break below to target 9430/20 then March lows at 9395. A break below here targets quite good support at 9330/25 but below here look for the next target of 9260/50.
Eurostoxx June Contract
EuroStoxx bears obviously remain in control. We have a gap to fill at 2768/63 & despite oversold conditions longs are still a little risky in the negative trend. Further losses target 2756, 2743/38, 2730 & 2710/06.
Any recovery to ease oversold conditions targets minor resistance at 2806/09 then stronger resistance at 2825/30. A high for the day certainly possible but if we continue higher look for 2847 then a selling opportunity at 2857/61. Shorts need stops above 2872.
Ftse June Contract
FTSE holding 6054/50 targets resistance at 6090/99. We should struggle here this morning but if we continue higher look for 6125/30, perhaps as far as stronger resistance at 6150/55. Shorts need stops above 6170.
A break below 6050 targets 6029/25 then 6010/05. A break below 6000 is a sell signal & targets 5970/65 then support at 5940/35.
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