FTSE still on track for higher levels..

FTSE has been working off overbought conditions..now looking like either one more small drop to 5560 or we are on our way higher..

FTSE 3 hour chart

The DAX also looking similar..

DAX daily chart

DAX 3 hour chart

Obviously if we get any bad "NEWS" out of the MERKOZY affair the short term may be a bit more volatile..
BUT longer term  once the "sell the news" crowd have finished higher levels ahead...