Levels to watch: FTSE 100, DAX and S&P 500

Indices remain in bullish form, with only slight pullbacks seen of late. 

FTSE 100 continues pushing higher

Pre-Bank of England (BoE) weakness yesterday was quickly reversed, with the FTSE 100 pushing above Wednesday’s high and finishing in strong form.

Dips should continue to find buyers as they have all week, with the 50-period simple moving average (SMA) on the four hour still acting as strong support. It is now only 100 points until the index hits its previous all-time high.

DAX heads higher still

The sequence of higher highs continues here for DAX, with only short-term retracements.

The next upside targets come in at 13,200 and then 13,600, while pullbacks towards 12,663 remain buying opportunities.

S&P 500 closes above late January line

The S&P 500 has closed above the downtrend line that has held since the end of January.

A retracement towards and retest of this line would suggest a dip towards 2700. Further gains above 2728 will target 2789 and 2802. 

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