Today's focus: GER30
Pattern – LH - Lower support test
Support – 15,055 - 15,015
Resistance – 15,287 - 15,504
Hi, and thanks for checking out today's analysis. The GER30 daily is today's focus. Due to the tragic events over the weekend, we have seen stock futures trading lower into the new week. The GER30 is testing Friday's firm finish and could be forming a new lower high. The key here will be if sellers can be price back down to test 15,055 - 15,015 support. A break set up a continuation of the med-term downtrend.
If buyers can reject today's selling and break back above Friday's high, this could suggest a new higher leg and a possible test of 15,504.
Good trading.
Pattern – LH - Lower support test
Support – 15,055 - 15,015
Resistance – 15,287 - 15,504
Hi, and thanks for checking out today's analysis. The GER30 daily is today's focus. Due to the tragic events over the weekend, we have seen stock futures trading lower into the new week. The GER30 is testing Friday's firm finish and could be forming a new lower high. The key here will be if sellers can be price back down to test 15,055 - 15,015 support. A break set up a continuation of the med-term downtrend.
If buyers can reject today's selling and break back above Friday's high, this could suggest a new higher leg and a possible test of 15,504.
Good trading.