Daily Forecast - 15 November 2017
Dax December contract
Dax may have one last push lower & holding below 13025/015 re-targets 12958. On further losses look for a buying opportunity at 12900/890, with stops below 12840.
Minor resistance at 13090/099 but strong resistance at 13135/145 is the best chance of a high for the day again. Try shorts with stops above 13185. A break higher however is a buy signal targeting 13240/250 & strong resistance at 13290/300. Try shorts with stops above 13330.
Ftse December contract
FTSE good support at the 100 day moving average at 7385/80 & again at 7360/50 so we should bottom somewhere within this 35 tick band. Longs need stops below 7330. An unexpected break below 7320 however is a sell signal.
Holding the big support level targets 7400 t& 7415/20. Above 7425 targets first resistance at 7443/48 with a high for the day likely. However above 7455 targets a selling opportunity at 7475/85, with stops above 7500.
Emini Dow Jones December contract
Emini Dow Jones bottomed just 1 tick from our buying opportunity at 23230/210. I just hope you managed to jump in for the bounce to 23360/350, before the top at 23379. We have dipped to minor support at 23310/300. Below 23280 risks a retest of strong support at 23230/210. However be aware that there is a good chance we will eventually trade down as far as 23130/120 for an excellent buying opportunity (I just don't know the timing).
Holding first support at 23310/300 targets first resistance at 23390/400 & the main challenge for bulls today. Try shorts with stops above 23440. Further gains however allow a retest of the 23552/557 all time high. A break higher targets 23590/595 & 23680/690.
S&P December contract
Emini S&P has spiked to down to 2564/62 on one day in each of the past 3 weeks...including this week & seen a strong bounce. However a break below 2560 is more likely now, targeting an excellent buying opportunity at 2554/52. Stop below 2548.
Bulls need prices to hold above 2575 to target 2581/82, perhaps as far as resistance at 2585/87. Above here in the short term sideways allows a retest of the 2592/94.50 all time high. Above 2595/97 targets 2603.
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