FTSE 100, DAX and S&P 500 advancing once again
Indices have shaken off their weakness from Friday, bolstered by hopes of lessening US-China tensions.
FTSE 100 back on the up
The FTSE 100 has recovered from the weakness seen on Friday. The index is back on course to test 6200 and then move into the gap down zone from early March.
If it can push on and clear 6400 in due course, then the outlook continues to become more bullish. Friday’s dip to 6050 created another higher low, so any more bearish move in the near term needs to move and hold below this level.
DAX renews move towards 11,800
The brief weakness from the end of last week has been cancelled out with this morning’s push higher, which has taken the DAX back towards 11,800.
Further gains target 12,280 and then on towards 13,000. Like the FTSE 100, Friday created a higher low, leaving the bullish trend intact. A push back below 11,500 is needed to signal that more weakness is in store.
S&P 500 starts week on the front foot
In this S&P 500's seemingly unending push higher, the next level to watch is 3130, the peak from early March. From here, 3200 and 3340 come into view.
Bears will to see a move below 3000 and then below 2980 to begin to put a dent in this bullish thesis.
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