Indices have seen a steady recovery over the past week, and look poised for more gains.
The index slumped last week but saw buyers on Friday in the wake of the payrolls report. A quiet session on Monday saw little movement, but crucially buyers have been able to prevent any further short-term downside.A close back above 39,000 could help suggest that a low is in place, and might then result in a push towards 40,000.
Friday and Monday saw the index recover after dropping back at the end of March. A higher low appears to have been created and remains in place unless the price can manage a close back below 8000 and below the previous highs around 7977.After bottoming out last week the index has made further gains, opening above the 50-day simple moving average .Additional upside would see the price head towards the March highs at 41,160, while above this the price will move into new record high territory.
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