FTSE 100, DAX and Dow breaking higher once more
FTSE 100, DAX and Dow ease back after yesterday’s gains.
FTSE 100 rolling over after yesterday’s surge
The FTSE 100 managed to rally through the 7340 resistance level yesterday, bringing about a four-week high for the index.
The existence of trendline resistance up ahead remains a threat to further upside, yet we would need to see a break through 7291 to bring about a more bearish picture from this position. Until then, the short-term uptrend remains intact.
DAX consolidating after continued upside
The DAX remains within an intraday uptrend, with the index managing to push into a 16-month high yesterday.
While the price is now stagnating, another leg higher looks likely before long. As such, a bullish outlook remains in play unless we see a break below the 12,888 level. Watch for a break through the 12,987 level to bring another buy signal following a shallow retracement.
Dow manages to break through key resistance
The Dow Jones managed to rally through the 27,125 level yesterday, bringing about a one-month high. Trendline resistance still lies ahead on the daily chart, yet this does point towards further upside likely coming into play on the intraday basis.
With the price drifting lower in early trade today, a break below 27,025 would bring a wider period of weakness into play. Until then, this short-term uptrend remains likely to persist.
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