FTSE 100, DAX and S&P 500 all lifted by tariff news
Stocks are on the up again as relations between the US and China continue to thaw and hopes of a trade deal rise.
FTSE 100 aims for break of September high
The FTSE 100’s focus level is 7440, the high from the end of September. A breakout above here would be a strong bullish development.
However, having rallied 180 points since last Thursday, the index may soon be subject to a brief pullback. Rising trendline support comes into play around 7310, while above 7470 the price heads towards 7556.
DAX targeting new 2019 high
Having breezed through the 13,209 highs from May/June 2018, the DAX now targets 13,600 over the longer term.
The move higher has been almost vertical since the beginning of October, with only brief pullbacks. Rising trendline comes into play around 13,100 and then at 13,070.
S&P 500 pushes higher to new record
The S&P 500’s short-term trendline support comes in around 3070, and then a further decline would bring 3020 into view.
So far, the uptrend continues to hold, although a short-term pullback would likely set up the index for a strong end to the year.
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