FTSE just held good support at 7315/10
|Daily Forecast - 25 July 2017
Eurostoxx September Contract
EuroStoxx first resistance at 3458/62 then strong resistance at 3477/84. Shorts need stops above 3495. An unexpected break higher targets 3515/18.
Failure to beat first resistance at 3458/62 3443/40 targets before support the June/July low at 3428/25. This held perfectly again yesterday but a break lower meets 23.6% Fibonacci support at 3411/08 which mark a low for correction, but longs need stops below the gap at 3391/84.
Ftse September Contract
FTSE just held good support at 7315/10 but meets resistance at 7350/54. A high for the day possible but further gains meet a selling opportunity at 7375/80, with stops above 7395.
Minor support at 7310/05 but below here 7290 targets 7250 before a retest of the 7236/32 low.
Dax September Contract
Dax bounce meets first resistance at 12255/265 but the best selling opportunity today is at 12320/330. Shorts need stops above 12370. A break higher however targets the next selling opportunity at 12440/450. Shorts need stops above 12500.
Failure to beat first resistance at 12255/265 re-targets 12180 before the 12138/133 low...then that gap to fill at 12120/115. We are just starting to look oversold but if we continue lower look for support at 12060/050 which is probably the best chance of a low for the correction. Try longs with stops below 11990.
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