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.

Levels to watch: FTSE 100, DAX and Dow

FTSE 100, DAX, and Dow have all moved into trendline in one form or another. With uptrends still in play, this could be a good buying opportunity for indices.

FTSE 100 falls into support trendline

The FTSE 100 has retraced into trendline support this morning, as the index pauses within an uptrend that has been in play throughout the past fortnight.

A break below 7370 would bring about a more bearish outlook. Until then, we look likely to push upwards from here in a continuation of the current intraday uptrend.

DAX finds support on minor swing low

The DAX has retraced into the 11,911 swing low overnight, with the recent uptrend coming into question.

A break below that level would give us greater confidence of a bearish breakdown from here. However, until then there is a good chance we could see the bulls come back into play today. Given the shallow retracement we have seen this far, a break through the 12,032 level would also serve as a good bullish signal.

Dow finds support at prior resistance level

The Dow Jones has been moving lower, with the price falling into the 26,241-26,277 zone. That zone represents the February and November peaks, which are now expected to provide support rather than resistance.

Given that we have moved lower into a deep retracement between the 61.8% and 76.4% Fibonacci levels, this looks like a good buying opportunity, with a bullish outlook in play unless we break below 26,123.

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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