CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Levels to watch: FTSE 100, DAX and Dow

After yesterday’s sell-off, indices are trying to recover, but the gains have been limited so far.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-03-20T09:09:21+0000

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FTSE 100 rebounds slightly

The FTSE 100 lost the rising trendline from the February low yesterday, but it has delivered only a modest rebound.

The first line of possible support comes in at 7061, followed by yesterday’s low at 7025, and then down to 6919. A recovery back above 7150 would suggest that the buyers have managed to take back control.

FTSE 100 chart

FTSE 100 chart

DAX encounters new selling

Monday saw the DAX fall below the rising trend from the March low, and already the rebound is meeting fresh selling.

Further losses will head to 12,115, 12,051 and then 11,908. It would need a recovery back above 12,477 to suggest that a turnaround is at hand.

DAX chart

DAX chart

Dow attempts rebound above trendline

All eyes will be on the Dow Jones as it looks to rebound following yesterday’s drop below the rising trendline that has held since the February low.

A rally that fails to move back above 24,951 would be a selling opportunity, while downside targets now lie at 24,413, 24,213 and 23,831.

Dow Jones chart

Dow Jones chart

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