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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

​​​​Indices make gains in early trading

Morning trading has seen a recovery for the FTSE 100, Dax and Dow futures, despite the hawkish tone of last night’s Fed minutes.

World indices Source: Bloomberg

​​​FTSE 100 revives off two-week low

​Wednesday saw the FTSE 100 index drop briefly to a two-week low around 7650, but the price then rallied off the low.

​Some initial gains this morning have put the price back above 7700, which may then provide a foundation for another challenge of the 7750 highs seen at the end of 2023.

​The uptrend from the October low is firmly intact, and it would need a move back below 7550 to suggest that the rally had run its course. Even further short-term weakness towards 7600 would still leave the move higher in place for the time being.

FTSE 100 Daily chart Source: ProRealTime
FTSE 100 Daily chart Source: ProRealTime

​Dax’s gentle pullback goes on

​The Dax index has continued to track lower since its December record high, but the losses have only put a modest dent in the gains made since the end of October.

​For the moment, buyers are defending the previous record high at 16,532, avoiding a close below this level and maintaining a medium-term bullish view. A close below 16,532 might open the way towards the June highs, and then on towards the 50-day simple moving average (SMA).

A close back above 16,800 restores a short-term bullish view and puts the price back on course to target the record highs of mid-December around 17,000.

Dax daily chart Source: ProRealTime
Dax daily chart Source: ProRealTime

​Dow still close to record high

​The Dow remains less than 1% off its record high, holding on to almost all of its gains made since the end of October.

​In the near-term, 36,954 and then 36,569 could be short-term areas of support, but for the moment a deeper correction has yet to materialise.

​A close back above 37,800 puts the index on course for new record highs and a push towards 38,000.

Dow daily chart Source: ProRealTime
Dow daily chart Source: ProRealTime

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