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Jason Sen (DayTradeIdeas) Comments On DAX (GER 40) And FTSE 100 - 28/09/22

Jason Sen (DayTradeIdeas) Comments On DAX (GER 40) And FTSE 100 - 28/09/22 | FXMAG.COM
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  1. Today's Analysis.

    Dax 40 December futures momentum is clearly negative as we break the July low at 12380/360. Yesterday we made a high for the day only 35 ticks above first resistance at 12350/400 before prices collapsed as expected.

    jason sen daytradeideas comments on dax ger 40 and ftse 100 28 09 22 grafika numer 1jason sen daytradeideas comments on dax ger 40 and ftse 100 28 09 22 grafika numer 1

    We appear to have formed a 9 month descending triangle pattern & have broken the lower trend line. Yesterday we formed a bear flag so a break below 12000 is the next sell signal.

    FTSE 100 December futures held Monday's range so same levels apply for today but we are breaking lower over night.

    Remember when support is broken it usually acts as resistance & vice-versa.

    Update daily by 06:00 GMT.

    Today's Analysis.

    Dax December broke support at 13100/13000 for a sell signal, then 3 month trend line support at 12700/650 for another sell signal & now the July low at 12380/360 for a new sell signal. Yesterday we made a high for the day just above first resistance at 12350/400. Then we crashed below 100 month MA support at 12200/150. As I warned you, the last 3 times this MA was tested, it did not hold, in 2009, 2011 & 2020. So now we have broken below 12000 (not a surprise!) & could drop quickly to 11700/700.

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    Gains are likely to be limited of course in the bear trend with resistance at 12100/12200. Shorts need stops above 12300.

    FTSE December hit 500 day moving average support at 7020/7000 but we have 2 year 38.2% Fibonacci support & June low at 6950/6910. Longs need stops below the 500 week moving average at 6850. A break lower is a major medium term sell signal.

    Bulls need a break above minor resistance at 7080/7100. A break higher meets strong resistance at 7160/80. Shorts need stops above 7210.


    Jason Sen

    Jason Sen

    Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason used technical analysis throughout his trading career and formed Daytrdeideas.co.uk which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders. daytradeideas.co.uk


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