Heading To Europe: Dax 40, FTSE And EuroStoxx 50 In Video Analysis
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Dax 40 extremely volatile (which I still think is part of the process of building a bear trend) & breaking to the downside at last
EuroStoxx 50 MARCH breaks important support at 4060/50 for a longer term sell signal.
FTSE 100 MARCH We wrote: Severely overbought & I feel we can go lower but there is no sell signal whatsoever.
Initially prices tumbled to first support at 7530/10 with a break lower yesterday to the next target of 7460/50 & well on the way to 7405/7395.
Update daily at 07:00 GMT
Today's Analysis.
Dax trying to break below important support again at 15050/15000 for a serious sell signal for this week. We can quickly go to 14800 (A LOW FOR THE DAY YESTERDAY AT 14831). A break below here is a more serious sell signal initially targeting 14680/650, eventually as far as 14350/300.
Bulls now need prices above 15250 to regain control. (So shorts need stops above here). We can then target 15360/390. If we continue higher look for 15500/550.
EuroStoxx holding below 4060/50 should be seen as a very serious sell signal - a move straight to 3900/3890 is likely. I would be concerned about a crash - A break below 3865 should trigger further significant losses.
Bulls need prices back above 4100 to regain control. We can then target 4125/30. Expect strong resistance at 4170/80. Shorts need stops above 4190.
FTSE now has strong resistance at 7510/30, which if tested & holds again today re-targets 7460/50 then 7405/7395. Expect strong support at 7350/40.
Shorts at 7510/30. Stop above 75540. A break higher however can target 7570/80 before a retest of 7620/30. Further gains target 7660/70, perhaps as far as 7740/60.
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