Technical Analysis – DayTradeIdeas

Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.

Dax 40 December futures shorts at resistance at 12900/950 offered a little profit on the slide to 12804, but we did not reach support at 12780/740.

FTSE 100 December bouncing around with no clear direction.

Today’s Analysis.

Dax December has now bounced back above resistance at 12900/950 & could target 13200/250. We should struggle to beat this level here today but shorts are probably too risky. If we continue higher look for 13370/380.

Strong support at 12950/900. Longs need stops below 12850.

FTSE December bounces back to resistance at 7000/7020. A break above this week’s high at 7054 targets strong resistance at 7110/20. First support at 6900/6880.

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Jason Sen, Director

https://www.daytradeideas.co.uk

20221026