Whilst stock markets have seen a strong rebound from the recent lows, some indices are seeing technical weakness and Michael Hewson asks whether we will continue to see conviction buying.
- The DAX has seen a significant rebound but the index is struggling to break above 9,120 and a key reversal day may add to this weakness
- After a strongly negative candle, the Italy 40 may be set for weakness if it cannot break back above its weekly highs
- Crude oil is trading sideways within a triangular consolidation and may soon see a sharp breakout to either side
- Cable seems to be showing signs of a break above its descending wedge pattern and may be seeing an inverse head and shoulders which also points to the upside
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Video content by Michael Hewson of CMC Markets.