European indices close mostly higher on the day and for the week

The major European  indices  are ending the day and the week mostly higher. The exception is the Spain’s Ibex which saw declines today and declines for the week.

A snapshot of the day shows:

• German DAX, +1.34%
• France’s CAC, +0.44%
• UK’s FTSE 100 +0.1%,
• Spain’s Ibex, -0.27% Spain’s
• Italy’s FTSE MIB, +1.0%

For the trading week:

• German DAX, +1.58%
• France’s CAC, +1.72%
• UK’s FTSE 100 +0.48%
• Spain’s Ibex -0.93%
• Italy’s FTSE MIB +1.93%

Looking at the hourly chart of the German DAX, the price today moved back above its 100 hour moving average at 12889.94. On June 27 and June 28, the price also moved above that moving average level only to move back below its way to a low of 12390.95 on July 5. If the price can stay above that MA going forward, it would give buyers more confidence to push higher toward the falling 200 hour MA at 13157.59 and the 38.2% at 13276.59.