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Levels to watch: FTSE 100, DAX and Dow

Indices continue to exhibit bullish tendencies, with the FTSE 100 in particular showing strong momentum.

IG Analyst

Publication date : 2018-05-10T09:15:23+0100

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FTSE 100 circles all-time high

After another spike higher yesterday, the FTSE 100 is within easy distance of its all-time high at 7796.

The straight-line move shows no sign of stopping, with another dip to the rising trendline suggesting a bounce from around 7566. The Bank of England (BoE) meeting today might prompt a rebound in sterling, which could result in a potential buying opportunity here.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX finds new upside targets

Having pushed above 12,954, the targets on the upside for DAX are now 13,200 and then 13,600.

A dip to the rising trendline around 12,800 would still provide a good buying opportunity. So far, there is no sign of any bearish price action.

DAX chart

DAX chart

DAX chart

Dow continues gaining

The gains continue here for Dow Jones although the price has yet to break above the mid-April high of around 24,860.

Near-term support comes in at 23,831 and then 23,112.

Dow Jones chart

Dow Jones chart

Dow Jones chart

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