FTSE 100, DAX and Dow surges higher after Friday declines
FTSE 100, DAX and Dow have turned higher despite sharp losses on Friday. With key resistance up ahead, will the recent market uptrend continue?
FTSE 100 on the rise after recent retracement
The FTSE 100 has been regaining ground after a sharp decline at the end of last week. However, things are looking brighter this week, with the index looking likely to continue the upside seen yesterday.
The rise yesterday looks to continue the creation of higher lows, with the price having managed to turn higher from above the 7240 swing low. As such, there is a strong chance that we see the FTSE 100 push up into the 7441 resistance region before long. A break below 7259 negates this bullish outlook.
DAX turning higher once more
The DAX has been on the rise after a decline into trendline support. The recent decline took us close to but not below the 13,109 support level, with the uptrend remaining in place as a result.
A break below that swing low would bring about questions over the possibility of a bearish turn. However, until that happens it looks likely we will see further upside to continue the uptrend.
Dow breaking into resistance amid uptrend continuation
The Dow Jones rally looks set to continue, with the recent pullback largely forgotten already. With the index rising into the 27,775 level, a break above that level provides the continuation signal.
As such, the Dow is likely to push onwards and upwards, much like its European counterparts. A break below 27,403 would negate this bullish outlook.
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