Levels to watch: FTSE 100, DAX and Dow

Continued range-bound trading for the FTSE 100 comes amid clear bullish trends for the DAX and Dow.

Source: Bloomberg

FTSE 100 losing ground as index approaches key resistance

The FTSE 100 is turning lower this morning, following another move higher yesterday. We remain range-bound between 7300 and 7460, with a continuation of that pattern looking likely.

As such, until we post a convincing break through either of those boundaries, it makes sense to look for short positions from the 7440 region.

DAX attempts to break higher once more

The DAX has been leading the way of late, with the index breaking through key resistance levels to bring a bullish outlook. This morning has seen the price push higher after a shallow retracement overnight.

That move gives us a close stop loss around 12,485, which is marginally below the notable historical support level of 12,490. As long as the price remains above that level, further gains seem likely. 

Dow looks set for further upside

The Dow Jones has also broken through some key resistance levels of late, with a clear bullish picture on the wider timeframes. While we have only seen a minimal pullback overnight, the ability to maintain the price above 22,062 is crucial.

This will ensure that we will push onwards from here, rather than retrace the sharp move higher yesterday. 

The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.

Find an article

Find articles by writer