FTSE 100 holds support, while DAX struggles, but Dow surges to fresh highs
The Dow has enjoyed a strong week so far, surging towards 41,000, while the FTSE 100 is holding above support. Meanwhile, the Dax is coming under pressure.
FTSE 100 holds above support
The FTSE 100 index bounced from the 8150 support zone yesterday, halting any downside for the time being.
Recent gains have petered out around 8300, so a close above this is needed to revive a bullish view in the short-term and open the way to the May highs.
DAX bounce fails to carry on
While the DAX 40 index bounced from the lows of the session yesterday, and held above the 50-day simple moving average (SMA), it has failed to carry on these gains.
A close back below the 50-day SMA brings the 100-day SMA into view. This acted as support throughout June. Bulls will want to see a close back above 18,700 to put the index back on course to reach the previous highs.
Dow leaps towards 41,000
The Dow Jones index surged yesterday, building on the strong gains of the previous week.
It currently sits at a new record high, just below 41,000. Some consolidation may be expected around current levels but the overall bullish view remains intact.
Some short-term weakness may test the 40,000 level once more.
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