DAX: Longs need stops below 14890

Jason Sen DayTradeIdeas.co.uk

Dax, EuroStoxx, Ftse

Dax 30 June broke strong support at 15340/300 this time to target 15180/160 &bottomed exactly at the next support at 15120/100.

EuroStoxx 50 June reversed from 4000 to test first support at 3975/70.

FTSE 100 June unexpectedly crashed below support at 6910/6890 to hit the nexttarget of 6855.

Daily analysis

Dax holding what is obviously first support at 15120/100 today. A break below 15070however risks a slide to best support for today at 14990/940. Longs need stops below14890. A break lower to targets 14820/800.

First resistance at 15290/330. A break higher targets 15440/450 b4 a retest of the alltime high at 15500/529. A break higher in the bull trend targets 15650/700 &resistance at 15800/850.

EuroStoxx collapsed through strong support at 3945/40 to hit 3889. We should have strong support at 3900/3890. A break below 3880 however risks a slide to 3865/62.Expect strong support at 3845/35. Longs need stops below 3825.

First resistance at 3935/45. A break above 3955 allows a retest of 3990/4000 Further gains target 4018/22 & 4032/35.

FTSE falls as far as 6803. Strong support at 6790/80. Longs need stops below 6770. A break lower to targets 6735/30. Best support now at 6665/35. Longs need stops below 6615.

A recovery meets strong resistance at 6900/6920. Holding here risks the formation ofa head & shoulders reversal pattern. We will watch this carefully. Shorts need stops above 6935.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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