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.

IG Analyst

Publication date : 2017-09-12T09:19:49+0100

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.

FTSE100chart

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.

DAXchart

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.

Levels to watch: FTSE 100, DAX and Dow

FTSE 100 losing ground as index approaches key resistance

FTSE100chart

DAX attempts to break higher once more

DAXchart

Dow looks set for further upside

DowJoneschart

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