The major European indices are closing higher on the day with the Spanish Ibex leading the way. A snapshot of the market currently shows:
- German DAX, +1.0%
- France’s CAC, +0.77%
- UK’s FTSE 100 +0.43%
- Spain’s Ibex, +1.24%
- Italy’s FTSE MIB, +0.7%
Looking at the German Dax, the price has risen now for the third consecutive day. In the process, the index has moved above its 200 day moving average currently at 15512.37 during trading yesterday, and its 150 day moving average today. The 100 day moving averages at 15661.50. The 50 day moving averages at 15720.46. Staying above those moving averages is a bullish development from a technical perspective.
This article was originally published by Forexlive.com. Read the original article here.
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