FTSE 100, DAX and S&P 500 begin to turn higher
Indices are looking to resume their move higher after Tuesday’s mixed session, with fresh records likely for the S&P 500.
FTSE 100 returns to Monday’s highs
After yesterday’s lacklustre session, the price of the FTSE 100 is pushing higher again.
The next target to watch is 7555, while for the moment the price appears to have found support around 7500. A deeper pullback towards 7440 or 7405 might test the resolve of the buyers this late in the year, but the overall bullish impression remains firmly in place for now
DAX shrugs off Tuesday’s weakness
The DAX continues to push lower, breaking below 13,250 and the low from Friday’s session before recovering in early trading.
If it can hold above 13,200 then a more bullish view develops, with a push towards 13,450 a likely outcome, resuming the broader rally. Below 13,200 the index will continue to eat into the gains of the past few weeks, heading to 13,050 and then 12,950.
S&P 500 eyes gains above 3200
Having drifted down from the highs close to 3200, the price of the S&P 500 has found support around 3188, and has started to move back above the 50-hour simple moving average (SMA) at 3190.
This brings a new push above 3200 into play, while a turn lower below 3188 wold head to 3173 and short-term trendline support.
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