Levels to watch: FTSE 100, DAX and Dow
The DAX is breaking to new highs for the year, while the FTSE 100 is trying to clear trendline resistance. Meanwhile, the Dow is also looking to move back towards recent record highs.
FTSE 100 fighting to break resistance
Another day, another attempt to break above trendline resistance for the FTSE 100.
Rising support from the 11 April low has held prevented further downside, and a close above 7460 would ignite a move to 7560. A close below 7435 might suggest another test of 7380 is in the offing, with a close below this providing a more bearish view.
DAX pushes on above 12,000
The DAX has clocked up a new high for the year in early trading, pushing through the 12,030 high from last week.
The next target is 12,300, as the index hits trendline resistance from the January 2018 record high.
Dow rallying through recent highs
The price of the Dow Jones is back to within 40 points of the 26,470 area that marked the highs so far in April.
A breakout above here clears the way for a run towards 26,950 and the record highs. Rising trendline support from the 27 March low comes in around 26,250, so a dip towards here could find support. A bearish view requires a close below this trendline.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
