Europe tests support

Germany’s Dax continues to test medium-term support at 7200. Respect of support would signal strong accumulation, while failure would indicate a correction to the rising trendline. 13-Week Twiggs Money Flow oscillating above zero indicates buying pressure. Breakout above 7600 would confirm a primary up-trend.

DAX Index

* Target calculation: 7000+ ( 7000 – 6000 ) = 8000

Dow Jones Europe Index consolidates below resistance at 265. Reversal below 250 would warn of a correction to test primary support, while breakout above 265 would signal a primary advance. Oscillation of 63-day Twiggs Momentum around zero suggests a ranging market with no clear primary trend.

Dow Jones Europe Index

* Target calculation: 260 + ( 260 – 210 ) = 310

The FTSE 100 continues to test support at 5740/5750. Failure of support would signal a correction to the rising trendline. Breakout above 6000/6100 is unlikely at present, but would offer a long-term target of 6750*. 13-Week Twiggs Money Flow oscillating above zero indicates long-term buying pressure.

FTSE 100 Index

* Target calculation: 6000 + ( 6000 – 5250 ) = 6750