FTSE 100, DAX and Dow gains slow, yet bullish outlook remains
FTSE 100, DAX, and Dow pause after recent gains, yet further upside looks likely before long.
FTSE 100 pushes higher on vaccine optimism
The FTSE 100 has been on the rise since breaking from its consolidation phase on Friday, with the index pushing towards the key 6811 resistance level. A push through that level would bring greater confidence of a continuation despite the index having the potential to be overstretched. Quite whether we retrace or not remains to be seen, yet any pullback would be deemed a retracement and a potential buying opportunity unless 6483 is breached.
DAX consolidates after latest rise
The DAX has largely been consolidating this week, with the index pausing after a bullish phase seen towards the end of last week. That looks likely to resume before long, but we could yet see a retracement in the meanwhile. A break below the 10474 level would bring that pullback into view, yet it would likely simply provide a retracement of the rally from 13913. As such, whether we see a deeper pullback here or not, a bullish outlook holds unless we see a break below the 13913 swing-low.
Dow Jones starts to ease back after recent gains
The Dow is slowing its gains this morning, with the index starting to show some signs of weakness after a positive start to the week. Once again, we are talking about the market that trades in a bullish formation, signaling a likely push higher before long. As such, whether or not we see a pullback, a bullish outlook holds unless 31217 is taken out.
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