FTSE 100 Steadies Above Key Support
The FTSE 100 rebounded from the 8150 support zone yesterday, temporarily halting further declines. Recent gains have stalled around 8300, so a close above this level is necessary to revive a bullish outlook in the short term and potentially reach the May highs.
DAX Rally Stalls
Despite the DAX bouncing from session lows yesterday and holding above the 50-day simple moving average (SMA), it has been unable to sustain these gains. A close below the 50-day SMA would shift focus to the 100-day SMA, which provided support throughout June. Bulls need a close above 18,700 to redirect the index towards previous highs.
Dow Approaches 41,000
The Dow surged yesterday, extending the strong gains from the previous week. It now sits at a new record high, just below 41,000. While some consolidation may occur around current levels, the overall bullish trend remains intact. However, short-term weakness could retest the 40,000 level.
