Europe: Dax & Footsie strengthen

Both the DAX and FTSE 100 display Twiggs Money Flow troughs above zero, indicating long-term buying pressure.

Germany’s DAX is approaching its 2015 high of 12400. Twiggs Money Flow signals long-term buying pressure but expect resistance between 12000 and 12400.

DAX

The FTSE 100 is retracing to test its new support level at 7000/7100. Rising Twiggs Money Flow indicates buying pressure. Respect of support is likely and would signal an advance to 7500*.

FTSE 100

* Target: 7100 + ( 7100 – 6700 ) = 7500

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