Indices attempt to rally after mixed week
A revival has been seen in bullish momentum, reversing a choppy first half of the week.
FTSE 100 steadily moving higher
The FTSE 100 has shrugged off the sudden drop from Tuesday, holding the 6875 area and steadily moving higher once again. This puts it back on course to hit 7040, the high from Friday, and then push higher. The bearish short-term view would require a drop back below 6870 that could open the path to 6760 and the 50-day SMA in the first instance.
DAX back on course
While the index still has lost ground to make up, it has avoided any further falls and is back on course for 15,500 and higher, assuming that it continues to hold above 15,070. Bullish momentum has revived, and a move for stochastics back above 50 would provide further confirmation that the strong momentum of March had returned.
Dow set for new record highs
Tuesday’s dip has been almost entirely recovered and this puts the index on a path to new record highs, continuing the strong and remarkably quiet rally for the year so far. Bullish momentum has been almost absurdly strong, with a steady rally pushing on for almost a month since the late March dip, with no sign as yet of any reversal even in the short-term.
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