FTSE 100 Maintains A Cautious Uptrend
The FTSE 100 is currently trading in a range, holding above the 55-day simple moving average (SMA) at 8,213, yet staying below the recent peak of 8,314 seen on Tuesday.
A breakout above this level could target the early June high of 8,364. Conversely, a drop below last Friday’s low of 8,187 might trigger a downward movement towards the May low of 8,138.
DAX 40 Reclaims Key Technical Level
The DAX 40 has ascended past the 50% Fibonacci retracement level of the April-to-May rally, situated at 18,170. The index is aiming for the 55-day SMA at 18,331, as well as trying to surpass Monday’s high at 18,357 and the early June low at 18,361.
Below this, minor support is identified near the 50% retracement, with additional support at Tuesday’s low of 18,071.
S&P 500 Targets Record Highs
The S&P 500 has resumed its upward trajectory, challenging its recent peak at 5,491. Surpassing this could set the stage for a test of its all-time high at 5,517.
This optimistic outlook is contingent on the index staying above Monday’s low of 5,444. A breakdown below this support could revisit the mid-June low at 5,393.
