FTSE 100, DAX and S&P 500 all moving higher
Indices have begun the week with gains, rallying after yet another positive session for Asian markets.
FTSE 100 rebounds from recent weakness
The FTSE 100 has been one of the weaker performers of late, having failed to hold on to the gains from late May and early June.
Early gains this morning have seen it rebound from the lows of Friday’s session, but the price will need to clear 6300 to the upside to suggest a bullish breakout is in play. A turn lower, below 6250, would likely signal that a downward move is back in play, targeting 6000 and lower.
DAX continues its rally
Early gains this morning have lifted the DAX back towards the June peak, as the rally renews itself after the mixed trading in June.
Rising trendline support from the mid-month low has helped the price to create a series of higher lows that have maintained a more bullish outlook. A bullish crossover for the daily moving average convergence divergence (MACD) reading would add to the expectation of further gains here.
S&P 500 eyes June peak
The S&P 500 is essentially back to the early-June highs, having established two higher lows during the past six weeks near the rising 50-day simple moving average (SMA).
Further gains will test the area around 3210, and then the next real target is 3393 and the February highs.
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