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Showing results for tags 'forecast'.
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FTSE did manage a test of Oct/Nov highs at 5903/07. With the market no overbought on daily and shorter term charts we may be unable to move any higher at this stage. We have support at 5870/65 but below here look for 5848. If this level fails to hold a slide look for 5830 and a good chance of a low for today so we look to exit shorts and buy in to longs with a stop below 5810. If we manage to push through the Oct/Nov highs at 5903/07, then the Sept highs of 5933 could be the next stop. Dax did test October & November highs at 7440/49 where we suggested exiting any remaining longs and moving in to short positions up to the 2012 highs at 7476. We will be looking to stop out of shorts however and buy back in to longs on a break above 7500. We did fall back a little from here to first Fib support at 7406/02. If we hold on here today look for another go at 7445/49 and the chance of a high for the day again. It is worth attempting shorts again here and up to 2012 highs at 7476 with a stop & reverse in to longs above 7500. A move below 7500 however keeps prices under pressure for 7376, possibly 7355. Should be worth exiting shots here and buying in to longs down to the 7333/28 with a low expected if this support is tested. Stops needed below 7300. Eurostoxx reached 2592 but not quite as far as 2012 highs and the big double top at 2602/07. Clearly this is a very significant level and with the market overbought on daily and shorter term charts there is a strong chance of a high here for this 2 week recovery. We have to attempt shorts here with a stop above 2613. We then run in to the 61.8% retracement level of the losses from the highs in 2011 at 2638 and this therefore should be very tough resistance. Attempt shorts once again with a stop and reverse in to longs above 2650. Support at 2563/59 from some weekly highs with first short term Fib support at 2552 but below 2547 we could see 2527 next. We could expect a bounce from here if tested but we need stops on longs below 2519 for 2507. Dax.pdf eurostxx.pdf Ftse.pdf
