FTSE struggling at a trend line which is keeping a lid on prices at present. This comes in today at 5462.
If we cannot hold above 5432/30 then look for a test of better support at 5398/96 and there is a good chance of a bounce from here. Buyers may wish to add down to 5384/80. However stops on long positions placed below here could then send prices down to 5365/60 next which should be enough on the downside for today. If it does fail then look for 5330/28.
Only a sustained break above 5459/62 resistance allows prices to continue the run higher with 5494/98 the next target. Above 5512 would then see bulls moving forward as they chase 5542/50 today.

Euro Stoxx has good support at 2734/32 with buyers likely to attempt longs here and add
down to 2725. Look for a bounce back from here today but stops will need to be
activated below 2720 as this should lead to further losses with 2708 then the next
target. Any further losses could test 2695 which should be an excellent buying opportunity
today.
Bulls need to see a break above the 2776/78 area for a move to 2795 on the way to
trend line resistance at 2819/21 today. Sellers will see this as their opportunity to
force a ceiling in prices today so watch for profit taking and the risk of the market
tumbling lower.

Dax has support down to 6139/33 but prices below here signals a move towards
6107/02 where we could see buyers attempting longs today. However stops below
6094 could then keep prices tumbling further with a test of 6164/54 then likely although
this should be enough movement to the downside today so look for a
bounce from here. Only below 6040 sees further weakness to 6027/16 next.
If we can hold above 6133 there is scope for a test of last week's highs at 6175/79
and this should remain hard to beat, so sellers will attempt shorts here once again
in the hopes of capping the market before a correction lower. However if we do
break higher then we should be on the way to 6207/10 before 6218/26. Then only a
break of 6235 allows for further gains to 6247/49.