Thursday, June 1, 2023

DAX, EuroStoxx, FTSE Futures Forecast


September bottomed exactly at the lower end of the range at 15440/433 and shot higher to strong resistance at 15580/600. Shorts however stopped above 15630 for the next target of 15690/700.

September topped exactly at first resistance at 4070/90.

September just held minor support at 7030/20 for a bounce to first resistance at 7040/50 but shorts were stopped above 7070.

Today’s Analysis

showed strong resistance at last week’s high of 15720/740. A break higher can target the June high at 15800/805. Obviously a break above here is a medium term buy signal.

Holding strong resistance at 15720/740 targets first support at 15620/600. A break below 15580 is a sell signal targeting 15530/510 and the lower end of the range at 15440/433. A break below 15440 can take prices as far as 15340/330. Support at last week’s low of 15275/255.

EuroStoxx September shorts at first resistance at 4070/90 target 4055/50, then the June low at 4025/15. I do not see this as strong support, so a break lower is likely, targeting 3990/3985. A break below 3980 can target 3940/35.

Gains are likely to be limited with first resistance at 4070/90. Bulls need a break above 4100 to be back in control.

September was seeing strong resistance at 7090/7100. Holding here targets 7045/35 then 7010/00. A break lower today targets 6995/85 then 6945/35.

Strong resistance at 7090/7100. Above 7110 look for 7145/55.

FTSE Index Chart

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here



Related Stories