Both the UK and Italy are closed today but the German, France and Spain markets were open. Spain is closing near unchanged on the day , but Germany and France equity markets are closing with solid gains.
- German DAX, +1.05%
- France’s CAC, +1.27%
- Spain’s Ibex, +0.3%
Looking at the German DAX, the high for the day reached 14492.78. That was just above the 100 day moving average at 14488.69. However the closing level at 14485.18 is just below that level. The last 4 days has seen at 100 day moving average tested. It would take a move above with momentum, to increase the bullish bias. Key level for both buyers and sellers.
The good news (for buyers) is that the index price is back above its 50% midpoint of the move down from the January 2022 high. That midpoint level comes in at 14363.27. Yesterday the price close below that level but rebounded back higher today.