FTSE above 7621 meets strong resistance at 7655/60
|Ftse September Contract
FTSE above 7621 meets strong resistance at 7655/60, being the high for this week. Above here targets 7675 & 7695/99. On further gains look for the roll over gap at 7713 to be filled.
We should meet good support at 7590/85 but below look for a buying opportunity at 7565/60, with stops below 7545.
Eurostoxx September Contract
EuroStoxx recovery to 3430/33 & 3445 offered 25 ticks profit yesterday. A break higher today fills the gap at 3460, just below resistance at 3463/66. Just be aware that a weekly close above here is a buy signal targeting 3480 & 200 day moving average at 3492/95.
Same levels apply for today on the downside & below 3433/30 risks a retest of key support at 3420/16. Be ready to sell a break below 3405 to target 3380/75. If we continue lower look for 3354/51.
Dax September Contract
Dax first resistance at 12510/520 is key to direction of course. A break higher targets 12560 then a gap to fill at 12580/585. Quite strong resistance at 12620/640 then a challenge for bulls.
Failure to beat first resistance at 12510/520 targets 12480/470 & 12415/405 before the best support of the day at 12370/360. Longs need stops below 12330 with further losses targeting 12295/285 & perhaps as far as 12210/00.
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