Levels to watch: FTSE, DAX and Dow

Once again markets are in the ascendant, with the US in particular making great strides as Christmas gets ever closer. 

Source: Bloomberg

FTSE 100 could find support at 6070

Overnight gains have been added to this morning, pushing through the highs of last Thursday around 6165. A move through here heads towards 6205 and then 6273 for the FTSE 100

The rising hourly trendline continues to hold, so support may come in around 6070 if the morning bounce dissipates.

DAX eyes 11,400

The price finds itself on the up yet again, but it has yet to push through the 10,800 area that would signal a new breakout is underway.

If this is achieved then we look towards 11,000 and onwards to the late November highs near 11,400.

A failure to push on brings support for the DAX around 10,430 and then 10,300 into play.

Dow could reach 17,800

The US staged a good recovery last night, with futures moving higher this morning as well.

While there may be some resistance around 17,500, the next target for the Dow Jones is 17,652, and then on towards 17,800, the 17 December high.

A breakout from here would head towards 18,000. Support is possible around 17,376 and then 17,275. 

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