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Key trading levels for major European stock indices

There is quite strong resistance on the DAX 30 chart at 12465/475. A break higher would target 12530/540. Above 12560 look for 12590/600, before the July high at 12650. A break higher is an obvious buy signal in the bull trend, targeting 12740/760 then 12860/880.

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Strong support at 12400/390 could work better today! Long positions need stops below 12350. A break lower is a minor sell signal targeting 12320/310, then a buying opportunity at 12250/240, with stops below 12200. We see the next downside target and buying opportunity at 12090/080.

The first support for the Euro Stoxx 50 is at 3500/3496 but a move below here targets 3485/83, then a buying opportunity at 3473/69. Long positions need stops below 3460. The next downside target and buying opportunity in the bull trend is seen at 34440/30, with stops below 3420.

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Holding 3500/3496 targets minor resistance at 3513/15 and 3522/24. Above 3528 look for 3536/37 and 3542/46. A break higher targets 3565/68 and 3575/78, perhaps as far as 3600/04.

The FTSE 100 holding first resistance at 7500/95 targets 7470/65, then a buying opportunity at 7445/40, with stops below 7430. A break lower, however, targets 7415/10 and below 7400 look for good support at 7380/70. Long positions need stops below 7360. Further losses could target a buying opportunity at 7315/05, with stops below 7290.

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There is minor resistance at 7500/05 but a move above here re-targets 7530/35, then 7555/60. A further break higher targets 7575/80, while on further gains look for 7606/10 and 7640.

Jason Sen

Technical Analyst & Trader

For more information and trading education visit Intertrader

The content of this article is the personal opinion of the author and not Intertrader. You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is not investment advice. The information provided is believed to be accurate at the date the information is produced.

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