FTSE 100, DAX, and Dow expected to gain ground from here
The FTSE, DAX, and Dow look likely to push higher, with the FTSE and Dow hoping to follow the lead of the DAX which continues to hit record highs.
FTSE 100 turning upwards from support zone
The FTSE 100 has started to find support this morning, following a retrace into the confluence zone of trendline and Fibonacci support.
The recent uptrend points towards a strong possibility that we are due another bullish turn from here, with a break below the recent swing-low of 7256 required to negate the current bullish outlook.
DAX pushing into new record highs in early trade
The DAX has managed to break into another fresh high this morning, continuing the recent positive form in this index.
We are seeing little signs of letting up on this bullish trajectory, with a break back below the latest swing-low of 16210 required to bring about a more neutral short-term view into play. Until then, further upside looks likely following this latest bullish breakout.
Dow channeling higher from Fibonacci support
The Dow has been on the rise over the course of the past week, with price channeling upwards after a pullback into the 61.8% Fibonacci level.
The wider picture does remain bullish despite the weakness shown over the course of last week. Thus a bullish outlook holds unless we see price fall back below the 35499 swing-low.
However, a move back below 36028 would be required to bring expectations of another near-term pullback into the 61.8% or 76.4% support levels.
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