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.
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