Daily Forecast - 15 December 2015
Dax December contract
Dax oversold enough to trigger a recovery today but must hold above 10250/245 to target first resistance at 10320/330. We should struggle initially but further gains would target 10385 then strong resistance at 10430/440. A good chance of a high for the day but shorts need stops above 10480. Just be aware that a break higher targets 10545/555 then a selling opportunity at 10615/625.
Failure to beat 10250/245 risks a retest of good support at 10120/110. This is the best chance of a low for the day once again in oversold conditions. Longs need stops below 10070. A break lower targets 10040 then 10020 & 9960/9950.
Eurostoxx December contract
EuroStoxx very oversold now but must beat first resistance at 3195 for a recovery today to target strong resistance at 3230/33. A break above yesterday's high at 3244 however is positive of course & targets minor resistance at 3262/64 then a selling opportunity at 3287/89. Shorts need stops above 3300.
Failure to beat first resistance at 3195 keeps the pressure on for 3175/70 then 3158. If we continue lower look for a retest of 3133 lows. A break lower targets 3120/18 then minor support at 3094/90.
S&P December contract
Emini S&P has bounced well but must hold above 2018/20 to build a recovery today & target minor resistance at 2029/30 then strong resistance at 2035/37. This should be the main challenge for bulls today but shorts need stops above 2041. A break higher sees 2035/37 work as support to target resistance at 2048/49. We should struggle here but if we continue higher this week look for the next target & selling opportunity at 2061/62. Shorts need stops above 2067.
First support at 2020/18 but below here is less positive & targets minor support at 2010/09. Further losses target November lows at 1999/98 but look for a buying opportunity at 1994/92. Longs need wide stops below 1985. Just be aware that a sustained break below 1990 is a sell signal despite oversold conditions & targets 1982/80 then support at 1970.
E Mini Nasdaq December contract
Emini Nasdaq remains volatile as we shot higher to resistance at 4574/79 & again shorts need stops above 4585. A break higher targets resistance at 4600/05, but if we continue higher look for 4618/19 then a selling opportunity at 4632/35. Shorts need stops above 4645.
Below 4570 keeps the pressure on for 4555 then support at 4540/35. Any longs need stops below 4525 with a break lower to target 4516 then 4499/95. If we continue lower look for a retest of 4478/75. Just be aware that further losses target important November lows at 4455. This is probably the most important support of the week now. A sustained break below 4450 is a sell signal & targets 4425/20.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
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