FTSE attempts to break 200-DMA
The FTSE 100 has held on to the 6585 level, and has tried a test of the 200-DMA at 6623. A move through here targets the 6642 level, and then the 6680.
Any persistent dips through 6600/6585 could herald a return to 6550.
DAX bounces off 100-DMA
Yesterday’s selloff in the DAX caught a bounce at the 100-DMA: 9450. So this remains the key level to watch if the index is to push higher.
A move through 9530, preferably on a closing basis, would put us on a trajectory towards the 9570 level. The 9600 level is still the one to watch – only a close through here will negate the downtrend resistance from the January highs. A decline through 9451 puts the 9390 level in focus.
Dow finds support
The 50-DMA at 16,250/60 came to the rescue of the Dow Jones yesterday, and the index managed a bounce following its triple-digit losses. We may see a retracement to 16,350/60 today, being roughly half of yesterday’s declines and previous resistance.
Any selloff through the 50-DMA targets the 16,200 level then 16,170.