DAX: A break higher targets 15370/80

Jason Sen DayTradeIdeas.co.uk

DAX, EuroStoxx, FTSE

Dax 30 June has held strong support at 15130/110 for 2 weeks & we bottomed exactly here again yesterday. We topped exactly at first resistance at 15270/290. Same levels apply for today of course.

EuroStoxx 50 June holding support at 3940/30.

FTSE 100 June topped just 3 ticks from resistance at the April high of 6990/7000.

Daily analysis

Dax held strong support at 15130/110. Longs need stops below 15080. Further losses meet strong support at 14940/900. Longs need stops below 14860.

First resistance at 15270/290. Shorts need stops above 15320. A break higher targets 15370/80. Above here look for 15440/450 before a retest of the all-time high at 15500/529. A break higher in the bull trend targets 15650/700 & resistance at 15770/790.

EuroStoxx holding below 3930 risks a slide to strong support at 3900/3890. Longs need stops below 3880. A break lower targets 3865/62 with strong support at 3845/35. Longs need stops below 3825.

Holding above 3940 targets 3960/3970 before a test of 3990/4000 highs. Further gains this week target 4018/22 & 4032/35.

FTSE holding key 200 week moving average resistance at the April high of 6990/7000 again last week.

First support at 6910/6900. A break below 6890 however risks a slide to 6860/55, perhaps as far as support at 6840/35. Watch for 100 month moving average support at 6780/60.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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