DAX
Near-term price action is consolidating under fresh over one-year high at 11204, posted yesterday, on extension of strong four-day rally.
Final break above multi-month congestion tops at 10800 zone generated strong bullish signal, as the price is on track for the strongest weekly gains since mid-October 2015.
Recent rally from 10400 trough marks the third wave of five wave cycle from 10020 that could travel to 11432 (30 Nov 2015 high) and its FE 138.2% at 11470.
Overbought daily studies suggest correction, however, no firm reversal signals seen so far.
Initial supports lay at 11120 and 11068; followed by 11000 zone, where first strong support lies.
Extended dips should be contained above 10900 (Fibo 38.2% of 10399/11204 rally) to keep intact very strong support and pivot at 10800.

Res: 11204; 11300; 11432; 11470
Sup: 11120; 11068; 11000; 10900

FTSE100
FTSE maintains strong bullish tone and is trading within narrow consolidation under four-day rally high at 6949.
Bullish daily techs suggest final push towards target at 6988 (10 Nov peak) and possible probe above psychological 7000 barrier, as sentiment is firmly bullish.
Consolidation ahead of fresh rally could be expected, with solid supports at 6884 (Fibo 23.6% of 6675/6949 rally) and 6844 (Fibo 38.2%), where extended dips should find ground, to keep intact lower pivot at 6812 (50% retracement / daily Tenkan-sen line).
Res: 6949; 6988; 7000; 7039
Sup: 6926; 6884; 6844; 6812

DOW JONES
Strong bulls remain in play and posted fresh record high at 19665 yesterday. The index is driven by firm bullish sentiment that was so far unaffected by strongly overbought daily studies, with price action set for strong weekly gains.
We expect the price to rise further, with narrow consolidation phases, as long as indicators continue to head north. Next target lies at 19810 projection, with psychological 20000 barrier coming in sight
Bearish signal is needed to indicate correction, which should be anticipated due to overextended daily studies.
First supports lay at 19557 and 19500 zone, loss of which could trigger extension towards 19300.
Res: 19665; 19741; 19810; 19900
Sup: 19557; 19500; 19443; 19374
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