European markets are expected to open higher today, following positive sentiment from the Asian session and after data from the stress tests of major banks in Europe is in norm.
Worse than expected manufacturing PMI data from China and concerns about the slowdown in the second largest economy in the world still does not reflect market sentiment.
London's FTSE is expected to open at 6752 with 28 points increase, the German DAX 72 points higher at 10409 and French CAC at 4468 increased by 29 points, according to IG.
The increase in oil prices will be positive for stock markets. The price is testing the 200 period moving average on the daily chart, as currently black gold is trading at a price $ 41.80 per barrel.
It is probable that indexes make upward impulse, but it should be watched closely how long it would last.
Technically, indices remain at levels of resistances and the market is overbought, therefore remain alert for possible corrections.
Jr. Trader Nikolay Georgiev
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