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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

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Levels to watch: FTSE, DAX and Dow

A very mixed bag for European and US equity markets sees strength in the UK counteract weakness in the DAX and Dow. 

IG Analyst

Publication date : 2017-03-14T09:18:21+0000

Trader
Source: Bloomberg

FTSE continues to trend higher

The FTSE is continuing its ascent this morning, with the index pushing back towards the crucial 7397 resistance level. The ability to break through that level will say a lot about whether we will see this rally continue apace.

However, with the price forming a bearish rising wedge, there is a good chance we could be heading towards a potential pullback, should the price fall below the latest swing low (currently 7359). Until then, the uptrend continues to dominate.

FTSE chart

FTSE chart

FTSE chart

DAX fails to push on through Friday’s highs

The DAX is pulling back following a rally into 12.020 (Wednesday’s peak), with the failure to retake 12,068 certainly a worry. The key to whether this current move lower constitutes something bearish is an hourly close below the 11,919 support level.

Until then, we remain within a range that has been respected most of the time in the past 10 days. As such, any move into that 11,919 level would likely spark a bounce. A break below here would look bearish, while a jump back above 12,020 would provide a more bullish outlook. 

DAX chart

DAX chart

DAX chart

Dow grinding lower, yet remains above key level

The Dow Jones has been drifting lower following the rally through 20,951 resistance on Friday. With the price moving gradually lower this morning, there is a good chance we could see another move lower in the short term. However, there is still a chance that what we are seeing is a retracement of the rally from 20,775, and as such the possibility of a bounce remains relevant.

A break below 20,775 would certainly be a big blow to Dow bulls, providing a more bearish outlook for the medium term. Until then, this downside could be fleeting.

Dow Jones chart

Dow Jones chart

Dow Jones chart

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. 

Professional clients trading spread bets and CFDs can lose more than they deposit.

Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. They’re not suitable for most investors. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether you can afford to lose more than your original investment.

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