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Levels to watch: FTSE 100, DAX and Dow

Indices continue pushing, with new highs being set for many. With a short-term pullback seen this morning, this could be a good buying opportunity.

Source: Bloomberg

FTSE 100 retracing after push into new highs

The FTSE 100 managed to break to a new five-month high overnight, pushing above the key 7565 level once again. We are seeing some weakness come into play here, yet further upside seems a likely eventuality.

The key support level to note is 7526. As long as that is not broken, any weakness would be seen as a buying opportunity.

DAX weakness brings buying opportunity

The DAX pushed into new highs overnight, with the index retracing somewhat this current hour. This provides another buying opportunity, with any short-term downside likely to be greeted by further gains.

So far, we have hit the 50% mark, yet any greater retracement would be a buying opportunity. This bullish view remains until the price breaks back below 13,453.

Dow channeling higher into new highs

The Dow Jones is on a clear upward trajectory, with the price maintaining a consistent pace over the past 24 hours. We are likely to see further upside, but beware of a possible retracement.

A break below trendline support would point towards the 23,554 level as near-term support. However, the price would have to break below 23,469 to negate the current bullish outlook.

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