FTSE 100, DAX and Dow expected to push higher once more
FTSE 100, DAX, and Dow looking likely to push higher after recent retracements.
FTSE 100 upside likely after recent consolidation
The FTSE 100 continues to consolidate after last weeks rally into 7389. The wider trend points towards a likely rally to break out from this pattern, with a rise through 7350 bringing that bullish signal.
As such, while we could see short-term consolidation, it is likely we will see a bullish surge come into play before long. A break below 7200 would be required to bring about a wider bearish picture.
DAX regaining ground after respecting key support
The DAX failed to break below 12,305 on Tuesday, with the respect of that support level giving way to upside in the following days.
We are continuing that upside in the current candle, with the price attempting to build towards the previous high of 12,496. Essentially, the directional bias will be better determined with a break through either 12,496 or 12,305.
Dow seeking to push higher after recent pullback
The Dow Jones is starting to look bullish once again, with the recent retracement into 61.8% Fibonacci support bringing about rise through the short-term resistance level of 27,121.
This signals a potential continuation of the uptrend that has been in play over the past month. A break below 26,714 would be required to bring about a more bearish picture.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
