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FTSE 100, DAX and S&P 500 attempt to push higher

The overall move higher continues, although indices have retreated from the peaks seen on Tuesday.

FTSE 100 breakout continues

The FTSE 100 hit a new higher high yesterday in its continuing breakout, but has fallen back overnight. The price has, for the time being, found support above 5570, but a continued positive view requires a move back above 5700.

Below 5570 a more neutral view emerges, targeting 5500. Further below this, the 5350 zone comes into play, which acted as support in late March and early April.

DAX pushes higher from overnight low

Most of the April gains are intact for the DAX, but we have seen some overnight weakness. However, the price is fighting to hold above 10,200 and also above the 50-hour simple moving average (SMA).

Fresh gains head towards 10,600, while a drop below 10,100 would begin to suggest a deeper retracement that might bring 9400 into view once again.

S&P 500 edges back from higher high

A fresh higher high in the ongoing push higher was recorded overnight for the S&P 500, and while the price is coming under pressure, it is still in an uptrend.

Any pullback that holds above 2450 is still a higher low and maintains the uptrend. Further gains target 2750 and higher.


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