Levels to watch: FTSE 100, DAX and Dow
It has been a tough session for the FTSE 100, which has fallen to two-week lows, while the Dow is still seemingly on course for new all-time highs.
FTSE 100 routed in early trading
A slew of ex-dividends and a sharp drop for Sainsbury’s shares have sent the FTSE 100 plunging in early trading, hitting a two-week low.
This has broken the gentle push higher seen over the past two weeks, and could be the start of a push towards 7360 or 7280 and the 50-day simple moving average (SMA). A rebound would target resistance around 7460.
DAX drops back but remains bullish
The DAX is only slightly lower, having edged back from yesterday’s fresh high for the year and the successful push above trendline resistance.
Further declines head towards 12,200, and then down to 12,000 and 11,800. A rebound above 12,350 would then target 12,410 and then 12,600.
Dow still targeting new records
The next targets in any push higher are 26,782 and 26,951, with the latter being the record high from last year. The Dow has fallen below rising trendline support from the 27 March lows, which may signal further bearish moves.
A drop below 26,469 would mark further losses towards 26,300.
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
