Dax 30 September just missed the 15700/710 target, then broke the best support at 15610/590 to bottom exactly at the next target of 15490/470.

EuroStoxx 50 September we wrote: held strong resistance at 4080/90 targeting 4060/50. Holding below here targets 4020, perhaps as far as 4000/3990. We went straight to the 4000 target & held just 3 ticks above. FTSE 100 September reversed 8 ticks from first resistance at 7000/7020 & broke minor support at 6935/25.

DAILY TIME FRAME: Dax collapsed to the next target of 15490/470. Further losses risk a retest of the June & July low at 15290/255. Longs need stops below the 100 days moving average at 15200. A break below here is a medium-term sell signal. 

First resistance at 15610/630. A break higher can target 15700/710 before strong resistance at June high at 15800/80. Shorts need stops above 15830. Obviously, a break above here is a medium-term buy signal initially targeting 16000/16100.

EuroStoxx September held 3 ticks above the next target of 4000/3990. On further losses look for a retest of the July low at 3940/35. A break below 3930 is a sell signal targeting 3910 & 3885/80.

Gains are likely to be limited with strong resistance at 4055/65 & again at 4080/90. Stop above 4100. A break higher is a buy signal targeting 4120/25 & 4145/50.

FTSE September best support at 6910/00. Longs need stops below 6890. A break below here is a medium-term sell signal targeting 6875/70 then 6810/00.

Bulls need a move above 6930 to test strong resistance at 7010/7025. Shorts need stops above 7050.

DAX D1

Jul 19 2021