FTSE 100, DAX and Dow ease back after recent break
FTSE 100, DAX and Dow turn lower after recent rally, yet recent uptrend remains intact.
FTSE 100 back at key resistance after yesterdays breakthrough
The FTSE 100 managed to break through the 7636 resistance level yesterday, signaling a likely push higher from here. However, with US Treasury Secretary Steve Mnuchin stating that the phase one trade deal will not reduce tariffs on Chinese goods, we saw some of that upside ease off.
Nevertheless, the short-term uptrend remains intact, with the index rising back into that 7636 resistance level once again this morning. Watch out for a break through 7653 to continue this bullish theme, whereas a decline below 7587 would bring about a more bearish short-term view.
DAX breaking lower from trendline once again
The DAX continues its gradual decline, with the descending trendline seen over the past week continuing to play a role.
With the index turning lower from that point of reference, it looks likely we will see further downside today. A break through trendline resistance and the 13,508 level would be required to negate this short-term bearish outlook.
Dow Jones turning lower from resistance following break higher
The Dow Jones managed to break through the 28,975 resistance level yesterday, only to be undone by the key 29,057 level.
We have been moving lower since, yet the 28,773 level needs to be broken if we are to look for longer lasting losses. As such, another leg higher looks likely before long, with a break below 28,773 needed to bring a more bearish outlook.
This information has been prepared by IG, a trading name of IG 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.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
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
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
