DAX, Nikkei 225 and Hang Seng make gains
Global indices are continuing to recover, though volumes are light thanks to the US holiday.
DAX pushes above 50-day moving average
Early trading has seen the price move above the 50-day simple moving average (SMA), continuing its recovery from the low of June.
Further gains target trendline resistance from the May high, while horizontal resistance around 18,65 may also come into play. From there the highs of May at 18,935 are the next target.
A close back below the 100-day SMA would negate this bullish view.
Nikkei 225 moves towards 41,000
The index has continued to make gains, rallying towards 41,000 just days after smashing through 40,000.
The long period of consolidation for the index, which dominated April, May and most of June, has given way to a strong rally. The March high at 41,15 is now is sight, and beyond this the index will hit a new record high.
In the short-term a close back below 40,000 might suggest that bullish momentum has been arrested for now, but the uptrend appears to be back in play over the medium term.
Hang Seng rebound continues
While the index has rallied over the past week, bouncing off the 100-day SMA, it is now yet clear that a new leg higher has begun.
We have seen two previous bounces since early June, both of which gave way to more losses. In the short-term, the price targets the mid-June high at 18,4, and then the 50-day SMA (currently 18,43).
Sellers will want to see a reversal back below 17,7 and the 100-day SMA.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
