CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

FTSE 100, DAX and Dow look to recover from Monday losses

Indices fell back yesterday, but have managed to hold the overnight lows for the time being.

FTSE 100 struggles to move higher

For the FTSE 100, the sharp drop yesterday reinforces the view that a lower high below 6200 has been created, but for the time being the price is holding above 6090.

A move below this brings Friday’s low at 5990 into view, confirming the ongoing downtrend from 6 July. Alternatively, a rally through 6200 would suggest a more bullish view is emerging.

DAX still in uptrend

Yesterday’s reversal does not alter the picture of an ongoing uptrend for the DAX, but it does suggest some weakness is beginning to emerge.

Gains above 12,800 have proven impossible to sustain this month, so any longer-term rally needs to clear this level. The price is holding above 12,500, an area that has marked support so far this month, so a more bearish view requires a decisive push below this level.

Dow stumbles after early gains

The steep drop yesterday will get much of the attention but the Dow Jones price had established a higher high earlier in the day, reinforcing the more bullish view which has developed since the end of June.

The weakness seems to have been stemmed around 26,000, so if this holds another push higher may begin to emerge. A drop below 26,000 brings 25,400 into play, and then potentially back to 25,000.

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.

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