A break lower 7790 can target 7760/50 – Crypto News – Crypto News
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A break lower 7790 can target 7760/50 A break lower 7790 can target 7760/50

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A break lower 7790 can target 7760/50 – Crypto News

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Dax 40 March broke higher to the next target of 15710/740 with a high for the day exactly here. We then hit some profit taking & tumbled to what should be minor support at 15470/430.

FTSE 100 March continues to push higher with a new all time high at 7915, but we are finding resistance at the 5 month trend line.

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

daily analysis

Dax March held 5 ticks below the next target of 15710/740. We should find support at 15470/430 today. A break below 15390 is therefore a sell signal targeting 15290/260. We should at least pause here but longs may be risky. Further losses can eventually target 15190/170.

First resistance at 15700/740. Shorts need stops above 15770. A break higher can target 15900/950.

FTSE March longs at first support at 7800/7770 worked perfectly after the buy signal targeting the January high at 7850/60 & the all time high of 7875/85 then as far as 7915 yesterday, leaving a second minor negative shooting star candle. It’s a warning to bulls rather than a sell signal, but there is obviously the risk that the mother of all double top patterns forms if this level holds.

fxoriginal

A break higher meets that trend line resistance at 7935/55.

A low for the day exactly at minor support at 7853/50, but expect better support at 7820/10 so watch for a low for the day here. Longs need stops below 7790. A break lower can target 7760/50.

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