FTSE 100, DAX and Dow head higher after recent declines
FTSE 100, DAX and Dow regain ground, yet questions remain given the depth of recent pullbacks.
FTSE 100 on the rise after recent declines
The FTSE 100 is turning higher this morning, after a deep retracement which came past the 76.4% Fibonacci level and 200 simple moving average (SMA) support.
There is a good chance this rebound could be short-lived, with a break through 7638 required to bring about a more reliable bullish signal. Until then, there is a good chance we could see further downside following this current move higher.
DAX regaining ground after recent declines
The DAX has similarly been on the rise, coming off the back of a sharp decline below the 76.4% Fibonacci retracement level. Importantly we did not see the 15,361 support level broken, signalling a continuation of the recent uptrend.
Nevertheless, much like the FTSE, the depth of that recent pullback does signal a chance that we are looking at a reversal here. However, we would need to see 13,361 broken to tell us as much.
Dow Jones turns higher from 61.8% Fibonacci retracement
The Dow Jones is also regaining ground, following a pullback into the 61.8% Fibonacci retracement level. With the recent US outperformance, it always seemed that we were looking at a short-term pullback for the Dow.
Thus, further upside seems likely, with a break through 29,348 required to bring about a signal that we are heading into another likely leg higher.
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.
