FTSE 100, DAX and Dow expected to push higher once more
FTSE 100, DAX, and Dow looking likely to push higher after recent retracements.
FTSE 100 upside likely after recent consolidation
The FTSE 100 continues to consolidate after last weeks rally into 7389. The wider trend points towards a likely rally to break out from this pattern, with a rise through 7350 bringing that bullish signal.
As such, while we could see short-term consolidation, it is likely we will see a bullish surge come into play before long. A break below 7200 would be required to bring about a wider bearish picture.
DAX regaining ground after respecting key support
The DAX failed to break below 12,305 on Tuesday, with the respect of that support level giving way to upside in the following days.
We are continuing that upside in the current candle, with the price attempting to build towards the previous high of 12,496. Essentially, the directional bias will be better determined with a break through either 12,496 or 12,305.
Dow seeking to push higher after recent pullback
The Dow Jones is starting to look bullish once again, with the recent retracement into 61.8% Fibonacci support bringing about rise through the short-term resistance level of 27,121.
This signals a potential continuation of the uptrend that has been in play over the past month. A break below 26,714 would be required to bring about a more bearish picture.
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