FTSE 100, DAX and Dow mixed ahead of quarter-end
Indices are showing signs of caution ahead of the end of Q1 and long weekends in the US and UK
FTSE 100
History is repeating itself, as the FTSE 100 price returns to the 6800 resistance zone and falls back. If the price manages to break the sequence of higher lows seen in recent sessions then a more bearish view emerges once again, although eyes will be on the 6650 area that marked support last week. Buyers need to clear this 6800 hurdle to open the path to more upside, but at present appear to lack the strength to drive the price higher.
DAX maintains bullish pattern
The DAX price took out the 15,000 level yesterday for the first time, and while it has edged back it remains in a bullish pattern. There is as yet no sign of a reversal, which might come with a drop below 14,700, so for now the buyers continue to hold sway. Some month- and quarter-end rebalancing may provide volatility, but overall the uptrend is still intact.
Dow edges back after record highs
The Dow price has edged back from the record highs of earlier in the week, although a full reversal has yet to take place. Some further weakness would carry the price back to the rising trendline from the March low, while below this the 50-day SMA at 31,720 comes into view.
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