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Levels to watch: FTSE, DAX and Dow

Although indices look stronger than they did at the end of last week, the bullish outlook needs further momentum today to avoid stagnation.

Data board
Source: Bloomberg

FTSE 100 aims for April high
The index was knocked back below 6300 yesterday, with the price still unable to push much higher. If it does close above 6300, the next target is 6430 and the April high.

A failure to push on today may suggest bullish momentum is fading and that the price will return to the key support zone around 6060. Only a move through the April high will signal the uptrend from the February lows is back in action.

FTSE 100 daily chart

DAX moves higher
Yesterday’s strong move for the index cancelled out Friday’s bearishness, with upside targets now at 10,400 and then 10,530. Beyond this, the next area to watch will be 10,800/11,000.

A failure to push on today and a close below 10,200 would suggest a new move lower may materialise, with a first target around 9800. 

DAX daily chart

Dow looks to gain momentum
A brief push over 18,000 did not yield further gains for the index, so buyers need to discover some momentum today if we are not to risk a turn lower.

A move higher heads towards the April peak at 18,180, while a first area of support would be around 17,700, and then down to 17,500.

Dow daily chart

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