DAX Break Above 13050 Is A Buy Signal; FTSE Faces Resistance At 7110
2022.10.21 07:32
December futures hovered from just below resistance at 12900/950 to retest first support at 12750/700, but over ran to 12644.
DAX Daily Chart
December still holding first support at 6910/6890 with a low for the day exactly here.
FTSE Daily Chart
Today’s Analysis
DAX December tests first support at 12750/700. Longs here can target 12810/830 (a high for the day here in fact yesterday), perhaps as far as resistance at 12900/950. Shorts need stops above 13050. Be ready to buy a break above here targeting 13200/250.
First support at 12750/700 as predicted. Longs need stops below 12650. A break lower is a sell signal for today targeting 12600 and probably as far as support at 12500/450 for profit taking on shorts.
FTSE December tests first support at 6910/6890 but longs need stops below 6870. A break lower can target 6800/6780. Below 6760 can retest 6720/10.
Longs at first support at 6910/6890 can target 6950 before a retest of first resistance at 7000/7020. Shorts need stops above 7040. Be ready to buy a break above 7040 targeting strong resistance at 7110/20.
