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​​Dow and NASDAQ 100 see losses ease, but DAX still under pressure​

While US indices have seen their losses ease off for now, the DAX is edging lower in early trading.

DAX 40 Source: Adobe images
Indices Market trend DAX Nasdaq-100 Dow Jones Industrial Average Moving average
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

​​​Dow losses pause for now

​The Dow Jones index failed to hold its highs yesterday, but has managed to avoid a lower close. In addition, the price has opened higher today, bolstering the view that a short-term low has been formed.

​A close above 40,400 helps to solidify the bullish outlook, while sellers will want a close back below Wednesday’s low at 39,803.

Dow Jones chart Source: ProRealTime
Dow Jones chart Source: ProRealTime

​NASDAQ 100 rallies off Thursday low

​Thursday saw the NASDAQ 100 index finish off the lows, bouncing off the 100-day simple moving average (SMA). However, it has yet to push above yesterday’s highs, limiting the potential for a bullish turn higher.

​A close back above 19,150 would signal that a low has formed for the time being.

NASDAQ 100 chart Source: ProRealTime
NASDAQ 100 chart Source: ProRealTime

​DAX drifts lower

​While the DAX 40 index finished firmly off the lows on Thursday, there hasn’t been any real bullish momentum overnight.

​A close back above 18,400 would be needed to suggest that a low has formed. A close below 18,130 today would reinforce the bearish view in the near-term.

DAX 40 chart Source: ProRealTime
DAX 40 chart Source: ProRealTime

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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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