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DAX Breaking Below 14350/300 Is The Next Sell Signal Targeting 13950/850

By Jason SenStock MarketsApr 13, 2022 02:48AM ET
www.investing.com/analysis/dax-breaking-below-14350300-is-the-next-sell-signal-targeting-13950850-200622093
DAX Breaking Below 14350/300 Is The Next Sell Signal Targeting 13950/850
By Jason Sen   |  Apr 13, 2022 02:48AM ET
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  • DAX 40 JUNE - a break below 14350/300 (with a high for the day exactly here yesterday) is the next sell signal targeting 13950/850.
  • EuroStoxx 50 JUNE held strong resistance at 3800/10 again on Friday and Monday to keep the outlook negative.
  • FTSE 100 JUNE hit resistance at the February high of 7610/30 and reversed, leaving a huge (potential) double top sell signal.

Today's Analysis

DAX 40 break below 14350/300 is the next sell signal targeting 13950/850. I am not looking to buy on weakness—I think we will continue to trend lower eventually targeting 13600/550. I prefer to sell a bounce with minor resistance at 14225/250 then best sell opportunity at 14300/400. Shorts need stops above 13500. A break higher can retest strong resistance at 14750/850. Shorts need stops above 14950.

EuroStoxx broke strong support at 3810/00 targeting 3770/50 and 3720 (hit overnight as I write). Further losses are likely eventually to 3660/50, perhaps as far as 3620/10. Gains are likely to be limited in the bear trend with resistance at 3760/70 and strong resistance at 3800/10. A break higher however can target 3880/90.

FTSE 100 meets resistance at the February high of 7610/30. A break higher tests strong resistance at the 2019 high at 7666. Holding 7630 sees us break minor support at 7550/40 to target 7500/7480. Although this may hold the downside initially I think longs are too risky now. On a break lower look for 7430/10.

DAX Breaking Below 14350/300 Is The Next Sell Signal Targeting 13950/850
 

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DAX Breaking Below 14350/300 Is The Next Sell Signal Targeting 13950/850

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