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Levels to watch: FTSE 100, DAX and Dow

The broadly bullish outlook persists in indices, where the strong rallies for the FTSE 100 and the DAX continue.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-05-08T09:25:53+0100

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FTSE 100 maintains rise

The FTSE 100 continues its steady ascent, resuming the march higher that has seen it add 11% since the end of March.

Having moved above 7590, the price can now target the all-time high at 7796 once again. A move below 7300 is needed to change the outlook to a more bearish one.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX reaches level of support

The 12,954 level was an important zone of support back for the DAX in November and December, and with the price now at this level we may see some short-term weakness.

However, the strong bounce from the lows of late March remains intact, with a drop below 12,660 needed for a break of the rising trendline that has held since the beginning of April.

DAX chart

DAX chart

DAX chart

Dow continues heading higher

Having convincingly defended the 23,830 level last week, the Dow Jones has continued its ascent.

A move higher targets 24,850, and from here 25,298 and then 25,823 come into view. A close below 23,500 is needed to suggest that the sellers are back in control, and even then 23,112 could still provide support.

Dow Jones chart

Dow Jones chart

Dow Jones chart

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