Maj. European indices are ending the day mostly higher:
- German DAX, +0.52%
- France's CAC, +0.45%
- UK's FTSE 100 +0.35%
- Spain's Ibex -0.13%
- Italy's FTSE MIB +0.8%
Looking at France's CAC, traders are battling it out between some key technical levels. Looking at the daily chart above, the 200 day moving average at 6606.03 stalled the rise from Tuesday and Wednesday. It would take a move above that moving average to increase the bullish bias.
Drilling to the hourly chart, the lower 100 hour moving average is trying to hold support. A move below that level would give sellers more comfort.
So buyers and sellers are battling it out between key moving average levels on both the daily and hourly charts.