Major European indices rise to start the trading week
The major European indices are ending the session higher as the new trading week begins. The provisional closes are showing:
- German DAX, +0.09%
- Francis CAC, +0.22%
- UK’s FTSE 100, +0.55%
- Spain’s Ibex, +0.77%
- Italy’s FTSE MIB, +0.65%
Looking at the German Dax daily chart, the price over the last two months has seen the price move below the 50 day moving average on three separate occasions. Each break quickly reversed with the price closing above the moving average on each day. Since June 21, the price has been able to stay above that moving average level. The moving average currently comes in at 15455.576. The current price is trading at 15664.55.
Stay above keeps the buyers in control even though price action remains sideways near the all-time high price of 15802.67.
This article was originally published by Forexlive.com. Read the original article here.