FTSE and DAX Ratio Table 11th April 2018
Just a few days ago the FTSE was struggling with 7050 but as perfectly normal once back inside its zone, which back then (Friday 6th) was 7100-7250, the next goal was always the upper boundary.
We would have expected a bit more of a fight at 7250 and with the auction adding 4-points means it closed 16-points above it, but the mining sector is bit of a goliath.
The fact it is just Y2 would have helped, but R2 at 7300 will be a far sterner test, one which is backed up by R3 just above it.
Of course, the downside was that titanic battle with DR, which he corresponding level here is still 7500, but with the rollover next week that might just prove a step too far.
Range: 7150 to 7250 or 7250 to 7300
Type: On balance bullish
The only ratio to change in the DAX since we last looked is R1 below the zone comes in a little bit, otherwise it has all been about the Y1 ratio bandwidth.
It has taken a little bit longer than expected but the high yesterday was 12428, so very close now to a test of Y2.
When it was going the other way, it hit R1 at 11800 on 23rd March (low 11818) and although it did go lower by and much it has all been about this level culminating in the actual move of the zone there.
Of course, the corresponding R1 ratio level here is at 12550.
Range: 11850 to 12450 or 12450 to 12550