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DAX 40 June Breaks Out to Retest All-Time High

By Jason SenStock MarketsMay 22, 2023 04:10AM ET

www.investing.com/analysis/dax-40-june-breaks-out-to-retest-alltime-high-200638302

By Jason Sen | May 22, 2023 04:10AM ET

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Dax 40 June breaks out to the upside to retest the all-time high at 16295.

FTSE 100 June trapped in a 120-tick range for 2 weeks.

Today's Analysis

Dax June beat the all-time high at 16275/295 & made it to the next target of 16370/390 with a high for the day exactly here. Bulls are clearly in control so further gains look likely this week targeting 16440/450 & 16495/505.

The downside should be limited & we could see a low for the morning at 16300/16290 but if we see further losses during the day I would expect very strong support at 16260/240. Longs need stops below 16200.

FTSE 100 June meets resistance at the high of the 2-week range at 7800/7820. Shorts need stops above 7835. A break higher is a buy signal as long as we hold above 7810/7790, targeting 7780/90 before a retest of the April high at 7925/35.

Minor support at 7760/50 then better support at the lower end of the range at 7700/7690. Longs need stops below 7680...on a break lower look for 7655/50.

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DAX 40 June Breaks Out to Retest All-Time High

Today's Analysis

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