- DAX 30 June tested minor resistance at the next target of 15690/710 and topped half way to 15750/760. We held in between support at 16640/630 and 15590/580. No sell signal despite severely overbought conditions, so best strategy should be to buy in to any weakness on profit taking.
- EuroStoxx 50 June finally reached our target of 4100/10 and topped exactly here.
- FTSE 100 June we are long at the buying opportunity at 7040/20, with up to 50 ticks profit offered.
Today’s Analysis
The DAX downside is expected to be limited in the bull trend with minor support at 15660/650. Below 15620 risks a slide to best support at 15555/535. Longs need stops below 15500. A break lower is a short term sell signal targeting 15480/470 and 15445/425. Minor resistance at this week’s high at 15730. A break higher is likely, eventually targeting 15750/760 and 17790/800.
EuroStoxx re-targets 4100/10. Obviously, this is the level to beat today for a buy signal targeting 4130/35 and 4160/65. Minor support at 4090/85 and 4075/70. Best support at 4060/50. Longs need stops below 4035.
FTSE longs at the buying opportunity at 7040/20 meets resistance at last week’s high at 7110/20 before key resistance at the 2021 high at 7133/43. A break higher is a buy signal ,of course, targeting 7185/95, perhaps as far as 7220/25. There's a buying opportunity at 7030/20. A break lower can test the 200-week moving average support at 6965/45. Longs need stops below the 3 month trend line support at 6925.
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