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Levels to watch: FTSE 100, DAX and Dow

Indices retain their bullish outlook, with the FTSE 100 recovering after hesitation yesterday. 

Trader
Source: Bloomberg

FTSE 100 regains its poise

A small dip for the FTSE 100 yesterday has been met by fresh buying, and so we look to see if the bulls can push on to test the 7553 high from 8 August. Above here, 7600 comes into view.

Dips back to 7400 remain buying opportunities, with only a move below 7300 negating the outlook for higher prices. 

FTSE 100 chart

DAX struggles to find a direction

The drift in a tight range continues for DAX, with the index unable to move on above 13,000 but finding support as it nudges back to 12,900. Above the former the index is in new all-time high territory.

Meanwhile, a break below the latter would see a potential drop towards 12,678. But even this does not seriously impair the bullish outlook.

DAX chart

Dow holds fast at all-time highs

The Dow Jones has failed to push higher over the past couple of sessions, but the overall bullish outlook remains. Pullbacks towards 22,300 are still possible buying opportunities.

It may even lean towards the 50-day simple moving average (SMA) at 22,125. 

Dow Jones chart

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