FTSE 100, DAX and Dow surge after Trump speech
FTSE 100, DAX and Dow break higher after yesterday’s appearance from Donald Trump. But will it last?
FTSE 100 rallies back towards resistance zone
The FTSE 100 has pushed higher after a conciliatory statement from US President Donald Trump yesterday, with risk-off sentiment easing to the benefit of global stocks. This has taken the index back into trendline and horizontal resistance, around 7600-7636.
For the FTSE, the recent weakness has occurred around a long-term trendline resistance, highlighting the potential for a significant period of weakness. However, with the price rising towards this short-term resistance area, traders should be watching out for whether we remain below 7636 to retain this potential bearish picture. If we do break through that resistance level, then the focus would be upon whether we can push through 7680 to negate that wider trendline and bring a bullish outlook for the index.
DAX breaks through key resistance
The DAX has surged higher off the back of this latest risk-on move, with the index reaching the highest level in almost two years. That places us within reach of record highs, with the bullish outlook that comes with such a breakout.
The key here is to watch whether we can sustain the price action above that 13,472 support level, with recent gyrations highlighting the threat of another leg lower.
Dow Jones surges back towards record highs
The Dow Jones has been on the rise after Trump's appearance, with the index just marginally off record highs.
That level is going to be key in the push for further gains, with a rise through 28,958 required to bring about a bullish continuation signal. To the downside, we would need to see a break below 28,731 to bring about a short-term retracement signal.
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.
