FTSE 100, DAX 40 and S&P 500 flirt with new record highs
FTSE 100, DAX 40 and S&P 500 flirt with new record highs but may lose some upward momentum due to end of week profit taking.
FTSE 100 flirts with record high
The FTSE 100's strong rally has taken it to a record high at 8,583 on Wednesday, a level which it is aiming to overcome at present with the 8,600 mark in sight. This bullish scenario will remain in play while Thursday's low at 8,509 underpins.
Further down the May peak at 8,479 is expected to offer support, were it to be revisited.
DAX 40 probes 21,500 region where it may lose upside momentum
The German DAX 40 index has seen six consecutive days of gains and reached our 21,500 upside target zone around which it is expected to lose upside momentum.
Immediate support is seen at Wednesday's 21,337 high with further support being found at Thursday's 21,223 low.
S&P 500 racks up second day of record highs and remains bid
The S&P 500 has seen five straight days of gains and continues to trade in record highs, having so far risen to 6,122 on its way to a 161.8% Fibonacci extension target at 6,271.
Potential slips are likely to find support around the 6,099 December peak. Further minor support can be spotted at the 26 December high at 6,044 ahead of the early January high at 6,018 and the psychological 6,000 mark.
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