Levels to watch: FTSE 100, DAX and Dow

After yesterday's sell-off, normal service has been resumed, with indices back at the highs. 

Source: Bloomberg

FTSE 100 back at resistance

FTSE 100 is back to the 7550 area that has held back progress so far this month. A push from here leaves the index with only the 7600 level to look out for, before fresh all-time highs.

As we saw yesterday, there seems plenty of buying pressure ready to step in at the slightest dip, with the 7480-7500 zone likely to see strong support. 

DAX storms back to 13,000

The dip for DAX to 12,900 was seized upon as a buying opportunity, with the price recovering and heading back to 13,000 and higher.

So long as 12,907 holds, we should expect further upside. Below 12,907 and then 12,881, the 12,678 level comes into play. 

Dow shrugs off the dip

Yesterday’s price action showed that the Dow Jones still has little desire to move lower. A test of 23,000 brought out the buyers, and was followed by a move to new highs.

The uptrend remains firmly intact, with a move below 23,000 potentially signaling more short-term weakness. 

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