Daily analysis by DayTradeIdeas - 31/08/2022

Daily analysis by DayTradeIdeas - 31/08/2022

FTSE 100 September futures made a high for the day exactly at strong resistance at 7480/7500. Shorts worked perfectly on the collapse to strong support at 7330/20, with a low for the day exactly here.

Today's Analysis.

Dax meets resistance at 13000/13100 today. Shorts need stops above 13200!! A break higher targets 13320/340 then strong resistance at 13450/500. Shorts need stops above 13600.

Shorts at resistance at 13000/13100 target 12800/750. Below 12700 look for 12630/600 before a retest of the 2022 low at 12400/367. A break below here (is likely eventually although I do not know if we will bounce from here on the next test) is a huge sell signal for the autumn. A 600 tick drop could be seen quite quickly.

FTSE holding first resistance at 7410/30 can target strong support at 7330/20. Longs need stops below 7400. A break lower tests the 100 & 200 day moving averages at 7370/50. A break below here is an important sell signal.

First resistance at 7410/30. Strong resistance again at 7480/7500. Shorts need stops above 7530.

Jason Sen

Jason Sen

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason used technical analysis throughout his trading career and formed Daytrdeideas.co.uk which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders. daytradeideas.co.uk