The key European indices are closing larger on the day. The German DAX rose 1.34% and within the course of is transferring additional away from its 100 day transferring common and serving to to prepared the ground.
The ultimate numbers are displaying:
- German DAX, +193.72 factors or 1.34% at 14653.80
- France’s CAC +63.48 factors or 0.98% at 6548.79
- UK’s FTSE 100 +75.27 factors or 1.00% at 7608.23
- Spain’s Ibex +111.48 factors or 1.28% at 8836.29
- Italy’s FTSE MIB +399 factors or 1.65% at 24565
Trying on the every day chart of the German DAX, the worth motion final week noticed the index transfer above and beneath its 100 day transferring common (blue line). On the shut on Friday, the worth has transfer again beneath the 100 day transferring common however simply barely.
At this time the worth gapped above that transferring common line and prolonged to a excessive value of 14709.38 earlier than rotating again right down to 14653.80 on the shut.
Nonetheless, the worth of the index is transferring away from its 100 day transferring common, and closed on the highest degree since March 29. The 61.8% retracement of the transfer down from the 2022 excessive is available in at 14816.88. That may be the following upside goal on additional momentum. Danger now could be the 100 day transferring common at 14459.41.