Charting indices: will the spike last?

Second day of upside, coming off the back of Janet Yellen’s comments. The FTSE 100 is back up past the key 6,070 points level, but until it reaches a further resistance at 6,170, IG analyst Josh Mahony remains bearish. A move above this point would make it look more than a short-term retracement. 

The CAC 40 seems to have come back to a key area of support. A close above 4,500 would create a level of resistance and make it look more bullish. Another crucial level on the DAX: the last two trading days could be seen as a double-bottom formation and a break above 9,710 could trigger a strong move to the upside. A similar scenario just happened on the S&P500. The next resistance point here comes at 1,980 points 

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