Daily Technical Strategies (2016.03.04)

Daily Technical Strategies (2016.03.04)

Source: ETX Capital Forex Broker (Review and Forex Rebates Up to 85%)

Daily Technical Strategies – FTSE 100 (NYSE Liffe) (H6) Intraday: intraday support around 6070.00.

Pivot: 6070.00

Our preference: long positions above 6070.00 with targets @ 6170.00 & 6195.00 in extension.

Alternative scenario: below 6070.00 look for further downside with 5995.00 & 5960.00 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Dax (Eurex) (H6) Intraday: bullish bias above 9580.00.

Pivot: 9580.00

Our preference: long positions above 9580.00 with targets @ 9915.00 & 10010.00 in extension.

Alternative scenario: below 9580.00 look for further downside with 9485.00 & 9390.00 as targets.

Comment: the RSI is above its neutrality area at 50%.

Dow Jones (CME) (H6) Intraday: bullish bias above 16800.00.

Pivot: 16800.00

Our preference: long positions above 16800.00 with targets @ 17000.00 & 17150.00 in extension.

Alternative scenario: below 16800.00 look for further downside with 16750.00 & 16700.00 as targets.

Comment: the RSI is bullish and calls for further upside. An ascending triangle pattern is confirmed.