FTSE 100 and Dow rise but DAX lags behind
While the DAX has struggled following the latest ECB meeting, the FTSE 100 and Dow are both still rising.
FTSE 100 hits new high for the month
The FTSE 100 continues to rise, hitting an eight-session high yesterday. A fresh higher low may provide another entry point, while further gains target 7320 and then 7370.
As noted yesterday, a move back below 7200 would likely indicate that the move lower had resumed.
DAX struggles in wake of ECB meeting
A sharp drop after yesterday’s European Central Bank (ECB) meeting dashed hopes of a fresh push higher, and it looks like the 12,000 area continues to provide resistance for the DAX.
A drop to 11,900 yesterday found support, but if this is broken then 11,800 and 11,700 become the next target to watch on the downside. A clear break above 12,100 would target previous lower highs from May at 12,130, 12,215 and 12,319.
Dow keeps on rising
The rally goes on for the Dow Jones, with no sign of a slowing down yet.
Aside from Wednesday’s drop back to the now-broken trendline, the index has had very little in the way of weakness. Further gains target 25,944 and then 26,700.
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