DAX: Longs need stops below 15500

Jason Sen DayTradeIdeas.co.uk

Dax, EuroStoxx, Ftse

Dax 30 June tested minor resistance at the next target of 15690/710 & topped halfway to 15750/760. We held in between support at 16640/630 & 15590/580.

No sell signal despite severely overbought conditions so the best strategy should be to buy into any weakness on profit-taking.

EuroStoxx 50 June finally reached our target of 4100/10 & topped exactly here.

FTSE 100 June we are long at the buying opportunity at 7040/20, with up to 50 ticks profit offered.

Daily analysis

Dax downside is expected to be limited in the bull trend with minor support at15660/650. Below 15620 risks a slide to best support at 15555/535. Longs need stops below 15500. A break lower to is a short term sell signal targeting 15480/470 & 15445/425.

Minor resistance at this week’s high at 15730. A break higher is likely eventually targeting 15750/760 & 17790/800.

EuroStoxx re-targets 4100/10. Obviously, this is the level to beat today for a buy signal targeting 4130/35 & 4160/65.

Minor support at 4090/85 & 4075/70. Best support at 4060/50. Longs need stops below 4035.

FTSE longs at the buying opportunity at 7040/20 meets resistance at last week’s highest 7110/20 before key resistance at the 2021 high at 7133/43. A break higher is abought signal of course targeting 7185/95, perhaps as far as 7220/25.

A buying opportunity at 7030/20. A break lower can test 200 week moving average support at 6965/45. Longs need stops below 3-month trend line support at 6925.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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