FTSE 100 and DAX looking to build on recent gains, while S&P 500 resumes its upward move
European indices are looking to capitalise on two days of gains.
FTSE 100 stalls in early trading
An attempt to rally above previous trendline support was knocked back yesterday, but the FTSE 100 continues to push higher from the lows of last Friday.
The first areas of possible support are 7555 and then 7530, having formed higher lows since Friday. Upside targets lie at 7590, and then on to 7620, with the latter requiring a move back above previous trendline support.
DAX finds early bullish momentum
A modest recovery continues here, with the DAX having recorded a fresh higher high as it pushes up from Friday’s lows.
A move above 12,450, around yesterday’s peak, would signal more bullish strength, with a push through 12,480 helping to reinforce the more bullish view. Further gains head towards 12,600 and 12,660 - the early-July peak.
S&P 500 still on the up
The steady grind higher goes on for the S&P 500, as a pullback towards 3000 finds support.
Further gains head to 3020, while a break below short-term trendline support would open the way to 2970 and then 2960.
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