European shares close the session with gains

<p>Most of the major European stock indices are closing date with gains. Spain's Ibex led the way. Italy's FTSE MIB was a laggard and the holy major indices to fall on the day.</p><p>A snapshot or closing levels shows:</p><ul><li>German DAX, +0.77%</li><li>France CAC, +0.56%</li><li>UK FTSE 100, +0.35%</li><li>Spain's Ibex +1.11%</li><li>Italy's FTSE MIB, -0.37%</li></ul><p>Looking at the daily chart of France's CAC index, the price last week bottomed on Wednesday right near the 200-day moving average at 7288.47 (currently – see green line on the chart below).</p><p>The price moved higher on Thursday but fell on Friday after making a new high. Today's gains extended above the high from Friday at 7446.82. The high price reached 7453.21. </p><p>The move away from the 200-day moving average kept the buyers more in control. Going forward, it also remains a key barometer for the buyers and sellers (along with the 100 day MA at 7239.60 – blue line on the chart above). Staying above is more bullish. Moving below is more bearish. </p>

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