FTSE 100, DAX and Dow pushing higher
FTSE 100, DAX and Dow continue to push higher following recent consolidation.
FTSE 100 grinding higher once again
The FTSE 100 is once again moving higher, as the index resumes its ascent towards the crucial 7680 resistance level.
A break through the level would likely break us into a more consistent uptrend rather than this current choppy ascent. For now, further short-term upside seems likely, yet we need to see a break above 7680 or below 7563 to gain greater directional traction.
DAX surges out of brief retracement phase
The DAX is breaking higher following a breakout from the recent pullback.
That decline was always likely to be a retracement, and the break through trendline and horizontal (13,461) resistance paved the way for a resurgence. That bullish move is coming to pass, with further upside looking likely from here. As such, a bullish outlook is in play, with a break below the 13,380 level required to negate this view.
Dow continues to outperform after trade deal
The Dow Jones remains on the rise, with the recent trade deal providing a sharp boost for US stocks. We are likely to see further upside going forward, with markets attempting to price in the potential benefits to US businesses.
The price is now back at an intraday ascending trendline, pointing towards a likely move higher from here. A break below that trendline could bring short-term downside, yet we would ultimately need to see a break below 28,787 to negate this wider bullish outlook. Until then, any downside would simply be viewed as a buying opportunity.
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