The FTSE 100 is testing medium-term support at 5700. Respect would test resistance at 6000/6100*, while failure would warn of a correction. A 63-day Twiggs Momentum trough above zero would strengthen the bull signal. Breakout above 6100 is still some way off but would offer a long-term target of 6750.
* Target calculation: 5900 + ( 5900 – 5700 ) = 6100
Dow Jones Europe Index is consolidating below 250 after breaking resistance at 240. Follow-through above 250 would signal an advance to the 2012 high of 265. Bullish divergence on 63-day Twiggs Momentum suggests a primary up-trend, but this would require a trough above zero — or breakout above 265 on the weekly chart — to confirm.
* Target calculation: 260 + ( 260 – 210 ) = 310