FTSE 100, DAX and Dow still powering higher
Indices are still being bolstered by positive trade talk, with the DAX and Dow leading the way.
FTSE 100 creates new higher low
The FTSE 100 retreated from its high yesterday, but is attempting to stabilise around 7375.
If it can create a higher low here and push higher, then the 7440 area is the target to watch, with a breakout above here being a positive development in the longer term. Further weakness heads towards rising trendline support from the September low at 7320.
DAX targets previous record
The DAX’s early weakness this morning is already being met with some buying, as the relentless gains continue.
Until the index breaks back below 13,000 intraday dips will still be firm buying opportunities; a move below 13,000 would signal that a more extended period of near-term weakness is at hand. A bigger move higher targets the 13,600 peak from January 2018.
Dow pushing to fresh record high
A new record high for the Dow Jones yesterday was followed up by some weakness overnight, but already buyers are stepping in.
Even the smallest dip appears to be a reason to buy, with a drop below 27,620 targeting possible support at 27,400 and then 27,100. By all logic, some weakness should be due soon, but for now the uptrend shows no sign of slowing.
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