European major indices close higher for the day and the week

Technical Analysis

Author: Greg Michalowski | german-dax

German DAX tests its 100/50 day moving averages

the major European indices are closing higher for the day and also closing higher for the week. The EuroStoxx 600 index rose by 2.6%. This was the best week since March.. UK's FTSE 100 is trading at 7 month high. The German Dax test its 50 and 100 day moving averages.

The provisional closes are showing:
  • German DAX, +0.8%
  • France's CAC, +0.6%
  • UK's FTSE 100 +0.35%
  • Spain's Ibex +0.8%
  • Italy's FTSE MIB, +0.8%
For the trading week:
  • German DAX, +2.5%
  • France's CAC, +2.57%
  • UK's FTSE 100, +1.9%
  • Spain's Ibex, +0.5% 
  • Italy's FTSE MIB, +1.6%
Looking at the daily chart of the German Dax, the high price reached 15598.58. That was just short of its 50 and 100 day moving averages at 15599 (see black and blue moving average lines in the chart below).

German DAX tests its 100/50 day moving averages_


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