FTSE 100 aims to recover 7100 as DAX and Dow hold near highs
While the DAX and Dow are close to their record peaks, the FTSE 100 is still struggling to hold above 7100.
FTSE 100
Another attempt by the FTSE 100 to hold above 7100 was defeated yesterday, but again buyers came in to defend 7000 and the index finds itself holding above 7050 for now. A renewed push still targets 7110 and 7167, while for the time being sellers are unable to build any momentum to drive the price back below 7000.
DAX
After bouncing from 15,500 yesterday the price finds itself holding at record highs. This puts it in a good place to renew its upward momentum, while on the flip side sellers have repeatedly failed to press home their advantage at moments of weakness, forming several higher lows on the four-hour chart that have bolstered the uptrend.
Dow
Unlike the DAX, this index failed to recover Wednesday’s highs, but it has avoided any significant downside too. Non-farms data today could well provide some more volatility, with a drop below 34,200 handing the advantage to the sellers, while above 34,800 a new leg higher beckons.
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