Levels to watch: FTSE 100 and Dow
After a tough week for the bulls, indices are still struggling.
FTSE 100 struggles near support
The FTSE 100 is unable to hold rallies, but it is also still holding 6640 support.
Since 13 December we have seen a progression of lower intraday highs, so a bullish view requires a move above 6750. This would then target 6840 and 6920 in the short-term. Downside targets lie at 6520 and 6430 if the index posts a daily close below 6640.
Dow under heavy pressure
Last week’s selling remained strong into the close, with a slight bounce in futures this morning for the Dow Jones.
Near-term support in any further downward move is found at 22,180 and then 21,639. A move back above 23,112 would be needed to put a slightly more bullish near-term view on the index.
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.
See your opportunity ?
Seize it now. Trade over 17 000 markets on our award-winning platform, with low spreads on indices, shares, commodities and more.
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.
