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CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

FTSE 100, DAX and S&P 500 all in rally mode

Indices have had an extremely strong week, with the DAX in particular firmly bullish.

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FTSE 100 keeps rallying

A bounce off trendline support and sharp moves higher for both stochastics and the moving average convergence/divergence (MACD) indicator point towards a resumption of the ongoing uptrend for the FTSE 100.

The price found support around 6325, at the 50-hour simple moving average (SMA) at 6354 and rising support from last Friday’s low. Further gains target 6530 and then on to 6850. Alternatively, a drop below 6320 brings the possibility of a deeper pullback, heading towards 6240 and then 6170 and 6050.

FTSE price chart Source: ProRealTime
FTSE price chart Source: ProRealTime

DAX takes off after ECB

For the DAX, yesterday’s drift down towards 12,400 has resolved into a move higher, underpinned like the FTSE 100’s, by rising stochastics and MACD which have helped to revive the uptrend.

This index has gained more than 1000 points in a week, but momentum still lies firmly with the buyers. Having cleared the early-March highs, the price now targets 12,950, 13,200 and then 13,600.

DAX price chart Source: ProRealTime
DAX price chart Source: ProRealTime

S&P 500 sails higher

The smooth uptrend continues for the S&P 500, leaving little for traders to do but look for dips.

Yesterday’s modest volatility saw the price dip below 3100 but then rebound, and we have already seen a higher high this morning. Higher lows and higher highs remain the order of the day, with no apparent sign that this trend will reverse.

S&P 500 price chart Source: ProRealTime
S&P 500 price chart Source: ProRealTime

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