Germany’s Dax continues to test medium-term support at 7200. Respect of support would signal strong accumulation. 13-Week Twiggs Money Flow oscillating above zero indicates buying pressure. Breakout above 7600 would confirm a primary up-trend.
* Target calculation: 7000+ ( 7000 – 6000 ) = 8000
The FTSE 100 (daily chart) is testing support at 5740/5750. Long tails suggest short-term buying pressure but bearish divergence on 21-day Twiggs Money Flow warns of medium-term selling. Breach of support would signal a correction. Breakout above 6000/6100 is unlikely at present, but would offer a long-term target of 6750*.
* Target calculation: 6000 + ( 6000 – 5250 ) = 6750