🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

DAX: A Break Lower At 1300 Is A Sell Signal Initially Targeting 12700/600

Published 06/15/2022, 02:21 AM
Updated 07/09/2023, 06:31 AM
UK100
-
DE40
-
NQM24
-
US500
-

E-mini S&P JUNE breaks support at 3820/00 for an important sell signal, of course, targeting 3730/20, then 3695/85, and 3650/40. The ultimate target is strong support at 3520/00. First resistance at 3770/80 then of course we have a sell opportunity at 3800/10 on any bounce - stop above 3825.

NASDAQ JUNE broke the May low at 11491 as predicted for an obvious sell signal targeting 11200/100 (a low for the day exactly here), then very strong support at 10800/700. This will be key to direction over the summer and a break lower will be disastrous. Gains are likely to be limited in the bear trend with first resistance at 11450/500. Unlikely, but if we continue higher, expect very strong resistance at 11600/650.

DAX broke strong support at 14200/150 to target 13900/800 and 13600/550, then 13480/430 yesterday, before a retest of very strong support at 13250/150. A low for the day exactly here, but longs need stops below 13000. A break lower is a very important medium term sell signal initially targeting 12700/600. Longs at very strong support at 13250/150 target 13450/500 (about 50 ticks away as I write overnight), perhaps as far as resistance at 13650/750.

FTSE broke strong support at 7320/00 for another sell signal targeting 7225/15 and important support at 7140/20. A LOW FOR THE DAY EXACTLY HERE! Longs need stops below 7080. A break lower is an important sell signal targeting 7000/6990 and 6900/6875 (just to start). A bounce from strong support at 7140/20 targets 7170/90 (hit), perhaps as far as 7250/80 today for profit taking. Further gains meet strong resistance at 7330/40.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.