FTSE 100, DAX and Dow breakout signals further upside
FTSE 100, DAX and Dow push higher, with bullish break through resistance pointing towards further upside to come.
FTSE 100 breaks through key resistance level
The FTSE 100 has managed to break through 6113 resistance, solidifying the recent pullback as a higher low. This points towards the potential for further upside from here, with the next resistance levels coming in the form of the 200-day SMA, and 6165. Ultimately, we would need to see a break down below the 5978 level to solidify a more bearish outlook once again.
DAX rally pushes index into two-week high
The Germany 40 has managed to break through both the 12799 and 12899 resistance levels this morning, with the index pushing out of the recent trend of lower highs and lows. With that in mind, there is a good chance we are going to see further upside from here, with a bullish view in play unless price drops below the 12514 support level.
Dow Jones continues its uptrend, as index tracks trendline higher
The Wall Street has been on the rise over recent weeks, with the reliable uptrend remaining in place as we continue to find support on an ascending trendline. That uptrend is likely to persist from here, where short-term weakness is likely to find support on that trendline. However, the uptrend ultimately remains in play even if that trendline is broken, with a drop below 27196 required to negate the current bullish view.
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