DAX Bear Trend Continues; FTSE Stable


40 December reached 14461, simply 39 ticks from the following goal and robust resistance at 14500/600.

We could have simply seen a excessive for the unbelievable 1 and a half month, 550 tick quick squeeze however this may occasionally current a superb promoting alternative.

December remarkably secure contemplating the insanity within the US markets.

Remember when help is damaged it normally acts as resistance and vice-versa.

Today’s Analysis

DAX December bought very near robust resistance at 14500/600. Shorts want stops above 14750. I believe there’s a good probability we have now seen a excessive for the restoration yesterday and the bear pattern will resume. The quick squeeze was brutal and certainly there have to be only a few speculative shorts left. The subsequent transfer to the draw back (if I’m proper) could possibly be simply as swift. Although we have now no promote sign simply but, we’re severely overbought in what I consider remains to be a bear pattern.

Yesterday we hit the draw back goal of 14200 and reached 14142 earlier than a bounce. First help at 14100/050 at this time. Longs could possibly be dangerous. A break under 14000 targets 13850/800.

Gains are more likely to be restricted with first resistance at 14330/360. Shorts want stops above 14400.

FTSE December examined minor help at 7335/25 however over ran by 20 ticks. Expect robust help at 7270/60. Longs want stops under 7240.

Minor resistance at 7430/40. A break increased targets 7480/90 and maybe so far as the September excessive at 7515.

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