Levels to watch: FTSE, DAX and Dow

The Federal Reserve decision today promises to provoke volatility, but ahead of this indices are continuing to rise. 

Federal Reserve
Source: Bloomberg

FTSE 100 RSI out of overbought territory

With December seasonality now seemingly in action, the default path for the index would appear to be higher.

Upside targets lie around 6068 and then 6114, with 6190 hovering in the far distance. 

The relative strength index has pulled itself out of overbought territory, with stochastics following with a bullish crossover as well. It would take a move back below 5945 to suggest that bearish momentum is reasserting itself. 

DAX could see more gains

The move above 10,400 confirms that buyers have the upper hand. It now looks as if the index will target 10,532 and then 10,652, with the 10,800 area as the next real target.

Some resistance may develop around 10,600 itself, but so long as the index remains above 10,290 the outlook still seems to point to more gains.

Dow could reach 17,666

The first thing on the bulls' to-do list today is to push through the descending trendline off the 2015 highs, with a move to 17,666.

If this is accomplished, then we look towards 17,791 and then 18,000. As with the other two indices, momentum indicators like RSI and stochastics continue in a bullish pattern.

The index would need a move below 17,300 to negate the expectation of further gains. 

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