The main European stock the clues end the day slightly higher (Italian stocks fell slightly).
- German Dax +0.01%
- Frances CAC +0.08%
- UK FTSE 100 +0.27%
- Spanish Ibex +0.34%
- Italian FTSE MIB reversed trend with -0.05% drop
for the trading week:
- German Dax, +0.76%
- Frances CAC, +1.02%
- UK FTSE 100, +1.37%< /li>
- Spanish Ibex, +3.55%
- Italian FTSE MIB +0.14%
Look at the Spanish Ibex weekly chart, and go back to the retested 200 and 100 week moving averages. The 200 week moving averages at 8424.69. The 200 week moving averages at 8478.20. Today’s high price reached 8425.30 between levels.
As for the German Dax, it also closed near a key weekly moving average. For this, the 100-week moving average sits at 14556.06. Today’s high reached 14571.66 just above this level, but pulled back on the close.
This 100-week moving average will be a key barometer for this index in the new trading week. Moving above is more bullish. Staying below is more bearish.
This article was written by Greg Michalowski at forexlive.com.