Levels to watch: FTSE 100, Dow and Nasdaq
UK and US markets have reached crucial resistance levels, with the reaction to these areas proving vital for the pathway ahead.
FTSE 100 pushes above notable resistance level
The FTSE 100 has managed to regain ground overnight, moving the price away from the crucial breakdown zone of 7370-7382.
The subsequent rise into the 7461 resistance level provides us with a potentially more bullish outlook, with a break through here raising the chance that we are going to push towards the prior peak of 7528. Thus, watch for how the index reacts to this level as a precursor to the forthcoming price action.
Dow reaches crucial resistance level
The Dow Jones has similarly reached a hugely notable level of resistance, which is going a long way to negating the bearish possibilities created by the recent flatlining lows at 26,310.
From here, a break through 26,700 would pave the way for a continuation of the uptrend, with a move below 26,417 required to negate that bullish outlook.
Nasdaq testing trendline resistance
The Nasdaq has managed to rebound into trendline resistance overnight, with the recent trendline breakdown close to being negated.
Watch out for a rise through 7852 to provide a bullish confirmation, with the current respect of trendline resistance maintaining the possibility of a turn lower from here.
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