Levels to watch: FTSE 100, DAX and Dow

Stock markets are moving higher in early trading, with the DAX in strong form ahead of the ECB meeting.

FTSE 100 builds on earlier gains

For the moment it still looks like the buyers are in control, having lifted the FTSE 100 off the lows down towards 7200 over the past week.

Fresh gains above Wednesday’s high of 7325, and above the 7340 high from the end of February, would suggest that a broader rally is underway. A reversal and close below 7200 reinvigorates the bearish view and suggests a push towards 7130.

Bulls take charge in DAX

Despite an indecisive day yesterday the buyers remain in charge, pushing the DAX back towards 12,100.

A close above here would provide fresh bullish momentum in a move towards 12,400. A close back below Tuesday’s low of 11,862 would be needed to restart the bearish move of late August and early September.

Dow turns higher again

Having found support earlier in the week at the 25,823 high from February, the price for Dow Jones has begun to push higher.

Wednesday saw 26,150 tested, the high from late August, and a close above here suggests a bigger move towards the all-time high of 26,705. A close below 25,823 is needed to suggest a more bearish view.

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