FTSE 100, DAX and Dow ease back, yet bullish view remains
FTSE 100, DAX and Dow weaken in early trade, yet pullback could provide a potential buying opportunity
FTSE 100 breaks resistance after long weekend
The FTSE 100 has pushed through the 6811 resistance level in early trade, with the index looking to finally exit a consolidation phase that has been playing out over the past three months. The break signals a potential continuation of the intraday uptrend seen over the past fortnight, with higher lows continuing to underpin a bullish bias here. With that in mind, further upside looks likely from here, with a break back below the 6711 level required to negate that bullish outlook.
DAX starts to pull back after hitting fresh highs
The DAX is weakening in early trade today, coming off the back of a notable period of strength that saw the index post fresh record highs on a daily basis. Whether this proves to be a fleeting or drawn-out retracement phase remains to be seen, but a bullish view holds as long as price does not decline through the 14408 low.
Dow Jones eases back into trendline support
The Dow has weakened into an ascending trendline in early trade today, coming off the back of a push into record highs yesterday. However, that bullish trend remains in play despite today’s weakness, with this pullback looking to provide a potential buying opportunity unless price falls back below the 32966.
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