FTSE 100, DAX and Dow ease back, yet bullish trends remain
FTSE 100, DAX and Dow upside begins to slow, yet any downside is likely to be brief.
FTSE 100 looks set for further upside
The FTSE 100 has managed to push into a new four-month high off the back of both election and US-China trade optimism, with the index reaching this high yesterday.
We have seen the index consolidate overnight, yet it is likely that this sideways price action is a precursor to further gains. Watch for a break through yesterday's peak and the 76.4% Fibonacci resistance at 7557 to provide a renewed bullish signal for the index.
DAX continues to stutter after bullish breakout
The DAX broke into an impressive 22-month high with the rise through 13,375 on Friday.
However, the index has been consolidating since that break, with gradual gains seeing us grind back towards Friday’s peak of 13,458. A break through the previous high could be the signal needed to bring about a new bullish surge. Alternatively, a decline below 13,253 would signal a likely period of retracement for the index.
Dow easing back after recent breakout
The Dow Jones managed to break into a record high yesterday, yet we have seen the index pull back somewhat since. With the price falling back again currently, there is a chance we will see further downside for the short term.
A break below 28,188 would signal such a move. Should that occur, watch for a potential retracement of the 28,023 rally to come into play. However, the bullish uptrend remains intact until such a break occurs, with a decline below 28,023 required to negate this recent bullish theme.
The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.
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, 1.2 on the Germany 40, and 0.4 on the US 500
- 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, 1.2 on the Germany 40, and 0.4 on the US 500
- 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.
