fxstreet.com 16 Feb, 2021 12:00 am

Records are there to be broken

Records are there to be broken
Stock markets continued their broadly positive tone last week with most indices ending in positive territory. The rally struggled for momentum as the

2021-02-16    After Market Close    American International Gr 2021-02-18    After Market Close    Applied Materials 2021-02-16    Before Market Open    AutoNation 2021-02-18    Before Market Open    Barclays 2021-02-17    After Market Close    Baidu 2021-02-17    After Market Close    Banco Macro 2021-02-18    After Market Close    BanColombia 2021-02-18    Before Market Open    Credit Suisse Group 2021-02-16    Before Market Open    CVS Health 2021-02-17    After Market Close    Cosan 2021-02-19    Before Market Open    Deere 2021-02-16    Before Market Open    General Mills 2021-02-18    Before Market Open    Walmart Clearly, the bullish trend remains in place with the classic series of higher highs and lows.The recently sideways pattern may have been a cause for concern but thankfully we have now broken out to the upside giving further credence to the bullish trend.In this respect support at 3860 is first support, with 3656 (Feb 1 low) below the key support to the short-term bullish trend.Longer-term the bullish trend is held by support at 3198-the last significant low.

On the longer-term chart, you can see the significance of this 3198 support, holding the bullish trend from the March 2020 lows in place.Recent reports from the UK on opening the economy sooner than expected have played into the global recovery theme.

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