Levels to watch: FTSE 100, DAX and Dow
Indices are moving higher this morning, as buyers look to follow up the recent sell-off with a fresh move higher.
FTSE 100 creates higher low
The pullback here has been dramatic given the relative quiet of the past few months, but we have seen the FTSE 100 stabilise for now above 7300.
If this is another higher low then gains will head to 7500 and 7600, while a failure to hold on to the 50-day simple moving average (SMA) at 7305 would open the way to 7160 and 7060, where the index rallied in March.
DAX renews its attempts to break higher
The DAX continues to hover below 12,400.
A break higher would target 12,600 and 12,850 while a deep retracement targets 11,850 and rising trendline support from the December lows.
Dow fights to hold support
For now the area around 26,150 continues to hold as support for the Dow Jones, but a break lower would target 26,400, an area of support in March.
Above 26,680 the 26,780 and then 26,950 zones are upside targets, the latter being the record high from last October.
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.