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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 pullback could be in the offing after substantial gains earlier this week. However, with the wider bullish trend in play, any such move would likely be short-term in nature.

IG Analyst

Publication date : 2017-04-26T09:53:21+0100

German stock exchange trader
Source: Bloomberg

FTSE turning lower from Fibonacci resistance

The FTSE is turning lower this morning, following a continued respect of the 76.4% Fibonacci retracement. The wider view shows a continued downtrend despite the fact that we saw such impressive gains earlier in the week.

With that in mind, there is reason to believe we could see further downside come into play, where a break through 7346 would be required to negate that wider downtrend. A break below 7255 would be required to signal that we are likely to see further downside.

FTSE chart

FTSE chart

FTSE chart

DAX could be set for a pullback

The DAX is weakening gradually this morning, following a failed attempt to push through to new all-time highs once more.

Ultimately, what we are looking for is an hourly close below 12,430, which would complete a small intraday double top formation. Should we see that, it would look like we are set for a short-term pullback before we move higher again.

DAX chart

DAX chart

Germany--260417-30-(DFB)_Lg

Dow flatlining points towards further upside

Unlike the European markets, we are not seeing any pullback for the Dow Jones yet, with the price flatlining after yesterday’s blockbuster rally.

It looks like we could see another leg higher with minimal pullback. A break back below the 20,988 level could point towards a similar retracement coming into play, but the view for this market remains highly bullish.

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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