European market forecast

FTSE weekly chart with 52 weeks channel

FTSE June 2012 pivot point levels

* FTSE technical forecast for June 2012:-

FTSE 100 index in may series almost tumbled by 600 from high to low.from highs of 5819 to lows of 5229!!almost 12% drop in index is shows how bearish environment going in Europe!!pound also tumbled against dollar to lows!!for june we recommends short side for target 5115 and 4895 while stoploss or major resistance will be  5460.on 52 weeks channel chart,channel direction is flat to positive while index is in lower zone of channel and heading towards lower band of 5133.weekly closing below 5135 will be big breakdown for long term view and trend will change and major lower tops and bottom cycle will trigger may last for 1 to 1.5 year!!

*CAC weekly chart with 52 weeks channel :-

* CAC June 2012 pivot point levels :-

CAC technical forecast for June 2012

CAC as we given in may almost achieved target of 2885.almost down 300 points in may 2012 from highs to low.on pivot points view now major resistance for june 2012 will be 3090 while targets or major supports on downside are 2900 and 2785.while if we see 52 weeks channel chart,trend is absolute down and in given fresh break down in last 2 weeks now targets will be 2570 while 3105 is moving resistance!!

*DAX weekly chart with 52 weeks channel :-

* DAX  June 2012 pivot point levels :-

* DAX technical forecast for June 2012:-

DAX also in month of may lost 600+ points from highs!!down almost 11% on month on month basis.for june look forward for lower side targets of 5785!on 52 weeks channel chart,lower breakdown point was 6400 now heading towards 2011 lows of 4965!!from this 1000+ point falls looks possible on technical basis!!

*IBEX weekly chart with 52 weeks channel :-

* IBEX  June 2012 pivot point levels :-

* IBEX technical forecast for June 2012:-

IBEX lost 1100 points in may and still going down!!for june expect lower side target of 5685 to 5285 while 6430 remain to major resistance by pivot point theory!!while on 52 weeks channel chart weekly trend is absolute down and achieved its target of 6070 and closed below it means from here selling may be sharp and large!!