Dax 40 and FTSE June: Will support hold or break?

Jason Sen DayTradeIdeas.co.uk

Dax 40 June breaks out of the diamond top pattern.

Dax 40 breaks to the downside for a sell signal. At last I think we have a pattern to trade!!

FTSE 100 June held resistance at 7760/80 again yesterday.

Daily analysis

Dax June meets resistance at the break point & 500 hour moving average at 15900/950. Shorts need stops above 16000.

We meet support at 15810/15770.

A break below 15750 should be a sell signal & certainly a weekly close below here should lead to losses next week. Next target is 15550.

FTSE June resistance at 7760/80 again today (a high for the day just 10 ticks above here yesterday so I hope a short here worked for you).

Holding below here again today keeps the pressure on for a retest of this week's low at 7688. A low for the day exactly here yesterday but I think eventually we will break lower to target 7655/50. A break below 7630 can target 7580/60.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

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