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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. 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.

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Levels to watch: FTSE, DAX and Dow

Overnight gains do little to dent the bearish outlook for indices, with the FTSE and Dow looking particularly likely to break lower from here.

anonymous

Publication date : 2017-03-28T09:21:01+0100

New York Stock Exchange traders
Source: Bloomberg

FTSE turning lower from resistance zone

The FTSE 100 has begun to weaken following a doji candle posted at the 200-period (4-hour) simple moving average (SMA), which is marginally below a notable ascending trendline. Despite a sizeable bounce overnight, we would need to see an hourly close above 7354 to negate the recent signs of weakness in this market.

The 7262 support level needs to be broken to really provide confidence of a ramp up in selling. However, for now it looks likely that we will see further downside from this resistance zone.

FTSE chart

FTSE chart

FTSE chart

DAX rally moves towards crucial resistance level

The DAX has pushed close to the crucial 12,098 resistance level this morning, following yesterday’s new higher low.

Given that inability to break below 11,850, a push through 12,098 would set up a significantly more bullish picture. However, until that happens there is a good chance we will see some downside from here.

DAX chart

DAX chart

DAX chart

Dow back into Fibonacci and horizontal resistance

The Dow Jones is similarly at a key juncture here, with the recent downtrend well intact despite the overnight rally.

The price has come into the 50% retracement, which coincides with the 20,583 low from last week. While we continue to trade below 20,756, a bearish outlook remains in play. 

Dow Jones chart

Dow Jones chart

Dow Jones chart

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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

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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.

IG is a trading name of IG Markets Ltd and IG Markets South Africa Limited. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in order to utilise their foreign investment allowance should the South African resident wish to open an offshore account with IG Markets Limited.

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