Levels to watch: FTSE, DAX and Dow

The FTSE is struggling to hold gains this morning, but the DAX is on the move lower. Meanwhile, US indices are starting to look a touch weaker. 

A man at a computer
Source: Bloomberg

FTSE unable to over resistance

Despite an attempt to move through 6400 yesterday the index found itself unable to sustain gains, slipping lower once more. However, the selling stopped around 6360, so the bears need to push through this early on in the session. A break through 6350 would head towards the 2 November low around 6320, and then on to the 21/22 October support zone close to 6300. Any upside on NFP day needs to clear 6380, but with resistance at 6400 and then 6420 it may be a struggle to move much higher.

DAX below 11,000

As before, the DAX is still stuck below 11,000, but downside is being constrained by 10,800 and then 10,700. A break higher targets 11,150 and then on to 11,600, while further losses would take the index back towards 10,600.

Dow rally pauses

Dow Jones futures have drifted through the rising October trendline, but the rally may not be done yet. If the price closes back below 17,800 then we will know that more weakness is possible, with a target around 17,600 in the first instance, before moving on to 17,200. A break through 18,000 is likely to be the catalyst that takes us on to the all-time highs seen in May, around 18,360.

This information has been prepared by IG, a trading name of IG Markets 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.