DAX longs at first support at 15630/600

Jason Sen DayTradeIdeas.co.uk

DAX, EuroStoxx, FTSE

Dax 30 September bottomed exactly at first support at 15630/600. Longs offered up to 100 ticks profit on the bounce to first target of 15710/730 we topped exactly here.

EuroStoxx 50 September bottomed exactly at best support at 4105/00 on the open with longs offered up to 45 ticks on the run to 4140/42 & almost as far as 4157/60.

FTSE 100 September holding best support at 7050/30 & first resistance at 7100/20also perfectly yesterday.

Daily analysis

Dax longs at first support at 15630/600 worked perfectly on the bounce to15710/730. Further gains test strong resistance which rises to 15820/840 today. A break higher is a medium-term buy signal initially targeting 16000.

First support again at 15630/600. Longs need stops below 15555. A break lower targets 15475/450. A break below here is more negative targeting 15375/50, perhaps as far as 15290/270.

EuroStoxx September holding above 4125 re-targets 4140/42 & 4151/53. A break higher targets 4157/60 & 4168/70.

Best support at 4105/00. A break lower targets 4080/75.

FTSE September holding best support at 7050/30 so far. A break lower targets support at 6985/65.

Minor resistance at 7100/20 also holding perfectly so far...before a retest of this week's high at 7140/43. A break higher targets 7185/95.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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