DAX: Longs need stops below 15500

Jason Sen DayTradeIdeas.co.uk

Dax, EuroStoxx, Ftse

Dax 30 June longs at best support at 15550/530 worked perfectly with longs offered 100 ticks on the bounce to minor resistance at 15640/660. We topped exactly here.

EuroStoxx 50 June best support at 4090/85 today. Longs need stops below 4080.

FTSE 100 June longs at the buying opportunity at 7040/20, worked perfectly all this week with up to 80 ticks profit offered as we topped exactly at the first target & resistance at last week’s high at 7110/20.

Daily analysis

Dax meets very minor resistance at 15640/660. Holding here risks a retest of best support at 15550/530. Longs need stops below 15500. A break lower is a short term sell signal targeting 15445/425. Longs need stops below 15370.

Minor resistance 15640/660 (is holding) & again at this week’s high at 15730. A break higher is likely eventually targeting 15750/760 & 17790/800.

EuroStoxx re-targets 4100/10 on the bounce from minor support at 4075/70. Obviously we need to hold above the level today for a buy signal targeting 4130/35 & 4160/65.

Best support at 4090/85. Longs need stops below 4080. A break lower targets a buying opportunity at 4060/50 stop below 4040.

FTSE held just 3 ticks above the buying opportunity at 7040/20 as we run back up to resistance at last week’s high at 7110/20. A break higher today tests key resistance at the 2021 high at 7133/43. A break higher is a buy signal of course targeting 7185/95, perhaps as far as 7220/25.

A drift lower meets minor support at 7080/70 (we bottomed exactly here yesterday) then 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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