Daily Forecast - 14 November 2017
Ftse December contract
FTSE first resistance at 7415/25 but above here targets 7550/55. Gains are likely to be limited but look for a selling opportunity at 7480/90 if we do unexpectedly continue higher.
First support at the 100 day moving average at 7385/80 with good support at 7360/50 so we should bottom somewhere within this 35 tick band. Longs need stops below 7330.
Dax December contract
Dax seeing a bounce towards strong resistance at 13135/145 & the best chance of a high for the day. Try shorts with stops above 13200. An unexpected break higher however targets 13240/250 & strong resistance at 13290/300. Try shorts with stops above 13330.
Failure to beat strong resistance at 13135/145 targets 13090/080 & 13025/015 before yesterday's low at 12958. On further losses look for a buying opportunity at 12900/890, with stops below 12840.
Eurostoxx December contract
EuroStoxx in correction mode with first resistance at 3573/78. Shorts need stops above 3586. A break higher targets 3600/03 but look for a selling opportunity at 3620/24 if we reach this far. Stop above 3635.
Failure to beat first resistance at 3573/78 targets 3558/55 then the 3543/40 but expect strong support at 3530/20. Try longs with stops below 3505. A good chance the bull trend will resume from here.
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