Futures Outlook For Monday: FTSE, DAX, Eurostoxx

FTSE June Contract

Ftse looks under pressure and this morning if the support fails at 3822, sellers will reappear, leading this lower for 3777 to 3756. At these lower levels, look for profit taking to appear. Buyers would also enter the market giving FTSE a short term lift, seeing a bounce, back to good level of 3822.

However, if 3756 fails to hold, it would make buyers nervous and fresh selling would appear forcing buyers to reverse and go lower with 3722 then look to entice. Once more at these levels, profit taking would surface and hold the market up initially.

Support

3777/71

3756

3741

3722*

3684

3642

3615/13

3599/98

Resistance

3809

3822/25

3865

3900

3920

3945/55

3980**

4002

Today’s Pivot Points

3942.5

3891.5

3857

3806

3771.5

SHORT TERM HOURLY FIB RETRACEMENT LEVELS

3887

3838

3794

3750

3701

LONGER TERM DAILY FIB LEVELS

3660

3775

3878

3980

4099

YESTERDAY’S PRICE ACTION

High : 3908

Low : 3822.5

Close : 3844

Dax June Contract

Dax has opened lower through the 50% fib level of 4129. Now this has come back above this level, thus it should hold another assault on it, and trade higher from current levels.

4129/4115 is a good band of support and buyers have reappeared at these lower levels. You should see a recovery from these lows back to minimum target of 4172. At these higher levels you will see profit taking and fresh selling. It is only above 4182 that sellers would be worried about their positions. If above 4182 look for this to come higher with 4197/4209 resistance band looking to entice.

Now if this market trades below 4115, there will be no upside correction, fresh sellers would appear and the market will fall down to minimum target of 4086.

Sellers will cover to here and reinstate if below 4086 for 4038.

Support

4129

4115

4097.5

4080

4063/52

4038

4012/05

3995/92

Resistance

4142/45

4153

4167/72

4182

4197

4209

4220/29

4242

Today’s Pivot Points

4341

4281

4224

4163

4106

SHORT TERM HOURLY FIB RETRACEMENT LEVELS

4220

4172

4129

4086

4038

LONGER TERM DAILY FIB LEVELS

3867

4012

4142

4272

4418

YESTERDAY’S PRICE ACTION

High : 2095

Low : 2025

Close : 2049

Eurostoxx June Contract

Eurostxx traded to 2108, but failed to maintain and has come back below 2099, although only by a few ticks.

However this will be the same today. If this cannot make a break and hold above 2099 you will find once more a move to the downside. You have support at 2071 initially, and a loss through here would see new sellers waiting to push this lower to 2050/44 first target. Profit taking may help this bounce slightly from the lower levels. If not and the market breaks 2040, renewed selling would push this lower to 2026/22 support where buyers will cover short positions.

Resistance as stated is at 2099. You did see 2108 yesterday, so renewed buying should not occur unless a break is now posted above 2110 for 2126/34. Buyers will be covering to these higher levels, and only renewing their positions if above 2138.

Support

1997

1990

1982

1970

1963

1952**

1933

1920

Resistance

2016

2022/26

2033

2050

2071

2092/99**

2107

2126/34**

Today’s Pivot Points

2125.3

2085.6

2055.3

2015.6

1985.3

SHORT TERM HOURLY FIB RETRACEMENT LEVELS

2033

1992

1957

1921

LONGER TERM DAILY FIB LEVELS

1915

1994

2066

2137

YESTERDAY’S PRICE ACTION

High : 2095

Low : 2025

Close : 2049

Subscribe by RSS Subscribe by Email