Indices edge off their lows as recovery hopes rise
It has been a seesaw week for stock markets, but the buyers appear to be gaining the upper hand as the final session gets underway.
FTSE 100
The FTSE 100 managed to hold on to its gains, and is looking to push on above 7080, in order to break the trading range of the week.
This would open the path towards 7200 once again, putting the buyers firmly in charge. Sellers have been unable to hold the price near 7000, or indeed to push the index below this level.
DAX
Over the previous two days dips towards 15,610 have found buyers, but a move above 15,750 still eludes the index.
As the week comes to a close, the buyers have pushed the index back towards this level, with a breakout above 15,750 opening the way to a renewed bounce, helped by rising stochastics.
Sellers need to push the price below 15,600 to open the way to renewed downside.
S&P 500
Thursday’s bounce off the 50-day simple moving average (SMA) seems to have put the buyers back in charge, and a move above 4500 would bring this latest shallow pullback to a close, and indicate that a new move towards recent highs is underway.
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