Technical Update - DAX, FTSE100 & FTSE250 Technical Update - DAX, FTSE100 & FTSE250 Technical Update - DAX, FTSE100 & FTSE250

Technical Update - DAX, FTSE100 & FTSE250

Equities 3 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  DAX testing key support. FTSE 100 and FTSE 250 has taken key supports out and are set for lower levels.
GER40, UK100 & UK250 mid levels in this article


DAX has been testing key support at around 14.906 this morning following a massive sell-off. Now back above 15K further rebound could be seen.
However, if daily RSI closes the day below 40 threshold (at the time of writing is below) it will be showing negative sentiment which indicates lower DAX levels.
A Dax close below 14.906 could fuel a sell-off down to around 0.382 retracement at 14,238 but there is no strong support until around 13,791.

To reverse this bearish scenario a close above 15.707 is needed. 

Source all data and chats : Saxo Group

GER40 cfd is testing key support at around 14,902 having dipped bellow in early session. At the time of writing RSI is below 40 i.e., in negative sentiment indicating lower levels. GER40 has been showing RSI divergence for several weeks by now strongly indicating an exhaustion of the uptrend.
For GER40 to reverse the bearish trend – bearish trend will be confirmed if it closes below 15,231 and further confirmed by a close below 14,902 – a close above 15,636 is needed.

FTSE 100 has broken below key strong support at around 7,708 finding support at the 100 Daily Moving Average.  But with the negative RSI sentiment FTSE 100 could drop further Next support at around 7,451, where the 200 MA will provide some support and the strong support at around 7,300. To reverse this bearish picture a close back above 7,850 is a minimum requirement

UK 100 cfd levels. Testing 0.382 retracement at 7,533. Support at around 7,293

FTSE 250 Mid Cap is continuing to unfold its Shoulder-Head-Shoulder pattern potential down to around 18,500. Negative RSI sentiment supports a move to that support. To demolish this picture a close back above the Neckline at around 19,574 is needed.


 

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
- Full disclaimer (https://www.home.saxo/en-mena/legal/disclaimer/saxo-disclaimer)


Boulevard Plaza, Tower 1, 30th floor, office 3002
Downtown, P.O. Box 33641 Dubai, UAE

Contact Saxo

Select region

UAE
UAE

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

Saxo Bank A/S is licensed by the Danish Financial Supervisory Authority and operates in the UAE under a representative office license issued by the Central bank of the UAE.

The content and material made available on this website and the linked sites are provided by Saxo Bank A/S. It is the sole responsibility of the recipient to ascertain the terms of and comply with any local laws or regulation to which they are subject.

The UAE Representative Office of Saxo Bank A/S markets the Saxo Bank A/S trading platform and the products offered by Saxo Bank A/S.