Levels to watch: FTSE 100, DAX and S&P 500
Indices have had a mixed week, with little in the way of progress to the upside. However, signs of bullishness are emerging again.
Breakout time for FTSE 100?
The FTSE 100 found buyers around 7380 yesterday, and is now pushing back towards trendline resistance from the all-time highs.
A close above 7465 suggests a move to 7560, with the bullish scenario prevailing unless we see a move back below 7380.
DAX targets trendline resistance
This week has seen support develop around 11,840 for the DAX, and the push higher since yesterday’s low is now challenging trendline resistance from the 4 April high.
Above 11,960 the index will head back towards 12,030, while a failure to push higher brings 11,840 back into view.
S&P 500 renews push towards recent highs
In the past week the S&P 500 has twice tried to breach 2895, with no success, but it is attempting another move towards this level in early trading.
Near-term support sits at 2880 and 2874 if the push higher fails.
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