FTSE 100, DAX and Dow expected to rise after bullish breaks
FTSE 100, DAX and Dow have all broken through key resistance, with further upside to come.
FTSE 100 heading higher after recent breakout
The FTSE 100 has been grinding higher over recent days, bringing the price back into the highest level in almost three weeks.
The recent break through 7231 provides a bullish signal, negating the formation of lower highs seen throughout the past month. Thus, further upside does look likely from here, with the next hurdle coming at 7305.
DAX pushing upwards following bullish break
The DAX also managed to break through key resistance, although this market is more advanced in that move having taken out both 11,854 and 11,862 peaks.
The price is starting to turn higher once again following weakness into the Friday close, with the recent uptrend expected to continue. With that in mind, it is worthwhile watching out for another surge from here, with a break below 11,844 required to bring questions to the short-term picture.
Dow pullback unlikely to last
The Dow Jones also saw some weakness to end the week, coming off the back of a key breakout through 26,379 and 26,426 swing highs.
That breakout points towards further upside to come, with this recent pullback looking like a precursor to further gains. Given the potential for another wider retracement, it may make sense to watch out for a break through 26,551 to provide a signal that we are going to push higher from here.
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