<p>The major European stock indices are closing the day modestly higher (Italy’s stocks fell fractionally).</p><ul><li>German Dax +0.01%</li><li>Frances CAC +0.08%</li><li>UK’s FTSE 100 +0.27%</li><li>Spain’s Ibex +0.34%</li><li>Italy’s FTSE MIB bucked the trend with a -0.05% decline</li></ul><p>for the trading week:</p><ul><li>German Dax, +0.76%</li><li>Frances CAC, +1.02%</li><li>UK’s FTSE 100, +1.37%</li><li>Spain’s Ibex, +3.55%</li><li>Italy’s FTSE MIB +0.14%</li></ul><p>Looking at the weekly chart of the Spain’s Ibex, and moved back up to retested 200 and 100 week moving averages. The 200 week moving averages at 8424.69. The 200 week moving averages at 8478.20. The high price today reached 8425.30 between the levels.</p><p>Looking at the German Dax, it also closed near a key weekly moving average. For it, the 100 week moving average comes in at 14556.06. The high price today reached 14571.66 just above that level, but backed off into the close. </p><p>That 100 week moving average will be a key barometer for that index in the new trading week. Move above is more bullish. Stay below is more bearish.</p>

This article was written by Greg Michalowski at forexlive.com.