Indices stage a further recovery
A revival in risk appetite has seen indices across the globe rebound from the lows of earlier in the week.
FTSE 100
The FTSE 100 has continued to make headway after a choppy session yesterday, during which it managed to find support at the 200-day imple moving average (SMA) of 6897.
The price has continued to climb, recovering 7000, and now it targets trendline resistance from earlier in the month, coming in around 7050.
With daily stochastics crossing higher too it looks like the buyers have re-established control in this market.
DAX
This index finds itself some 400 points higher than Monday’s low, with a recovery apparently firmly underway.
The stout defence of the July low left sellers unable to push the market lower, and instead a rebound has developed that could now begin to target 15,800 in the medium-term.
Dow
US indices have been more hesitant thanks to the Federal Reserve (Fed), but Dow futures are showing signs of recovering as well, moving back above 34,000.
Now we look to see if these small gains can hold as markets await the Fed decision, and whether they can move higher once the decision is out of the way.
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