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DAX, Euro Stoxx, FTSE Daily Forecast

By Jason SenStock MarketsApr 22, 2021 05:49AM ET
www.investing.com/analysis/dax-euro-stoxx-ftse-daily-forecast-200574622
DAX, Euro Stoxx, FTSE Daily Forecast
By Jason Sen   |  Apr 22, 2021 05:49AM ET
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DAX 30 June bottomed exactly at support at 15120/100. Longs worked perfectly on the bounce to first resistance at 15290/330. As I write, we topped exactly here.

Euro Stoxx 50 June bottomed exactly at strong support at 3900/3890 & longs worked perfectly on the bounce to 3955.

FTSE 100 June recovered to the first target and strong resistance at 6900/6920. We topped exactly here.

Today’s Analysis

DAX longs offered almost 200 ticks of profit on the bounce to our target and first resistance at 15290/330. A break higher targets 15440/450 before a retest of the all time high at 15500/529. A break higher in the bull trend targets 15650/700 and resistance at 15800/850.

Strong support again at 15120/100 today. Longs need stops below 15070. Further losses meet strong support at 14990/940. Longs need stops below 14890. A break lower to targets 14820/800.

Euro Stoxx longs at 3900/3890 work on the bounce to first resistance at 3935/45. A break above 3955 allows a retest of 3990/4000 Further gains target 4018/22 and 4032/35.

Strong support again at 3900/3890. A break below 3880, however, risks a slide to 3865/62. Expect strong support at 3845/35. Longs need stops below 3825.

FTSE topped exactly at the first target and strong resistance at 6900/6920 as I write. Holding here risks the formation of a head & shoulders reversal pattern.

We will watch this carefully. Shorts need stops above 6935. A break higher targets 6965/70 before a retest of resistance at 6990/7000.

Shorts at strong resistance at 6900/6920 target 6870/60, perhaps as far as 6840/35.

Strong support at 6790/80. Longs need stops below 6770. A break lower targets 6735/30. Best support then at 6665/35. Longs need stops below 6615.

FTSE Index Chart
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.

DAX, Euro Stoxx, FTSE Daily Forecast
 

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