Levels to watch: FTSE, DAX and Dow

Bullish sentiment all-round, as the DAX breaks through a key resistance level and the Dow continues to rise. Could we be set for the Santa rally?

Data on screen
Source: Bloomberg

FTSE pushing towards key resistance level

The FTSE 100 is gaining ground in a considered and consistent manner this week, with price moving back towards the key resistance zone around 6852. That level represents a significant hurdle and any further upside would have questions asked around that price.

With higher highs and higher lows being created on an intraday basis, it is worth following the short-term trend. However, the reaction to 6852 could pave the way for how the second-half of this week pans out. 

DAX breaks through resistance

The DAX has managed to break through the crucial 10,807 resistance level yesterday, with a subsequent consolidation leading to another leg higher this morning.

Given that the index has failed to break through the 10,807 level on a number of occasions in the last four-months, this could be the beginning of the next big move higher for the index, with precious few resistance levels above the 10,879 level currently being contested.

As such, so long as price remains above 10,807, a bullish view is in play.

Dow continues to charge higher

The Dow Jones has been moving higher in a very consistent manner since Donald Trump's victory, with new highs being created on almost a daily basis.

Price appears to be on the way to creating another high, as it rises following a period of weakness earlier in the week. As long as we continue to create higher highs and higher lows, a bullish view remains in play. 

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