CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

FTSE 100, DAX and Dow continue to push higher

FTSE 100, DAX and Dow push higher, with US markets reaching record highs.

FTSE 100 rallies through key resistance zone

The FTSE 100 has managed to rise through the 76.4% resistance zone, which has capped much of the price action seen over the past two weeks. That rise takes us closer to the key breakout level of 7441, which would bring a wider bullish outlook if broken.

For now, we are seeing the price pull back, with the price having dropped towards the 7359 level. Should that short-term swing low break, it would point towards further downside as we retrace the rally from 7240. Until that happens, further upside seems likely.

DAX rally pauses after rally into historical resistance

The DAX has been on the rise once again, with the price hitting a 16-month high this week. We are starting to see the price consolidate after rising towards the notable 13,208 resistance level (May 2018 peak).

There is a chance we could see further downside for the near term, yet such weakness would likely be fleeting unless we see a break below 12,792. For the short term, a break below 13,116 would raise the likelihood of a short-term retracement. Until then, the bullish outlook remains in play.

Dow continues to gain ground after hitting record high

The Dow Jones has managed to break into a record high this week, with the price breaking through 27,315 and 27,403 resistance. The lack of resistance above the current price points towards further upside, with traders likely to follow the short-term trend for now.

The hourly chart highlights the continued creation of higher highs and lows. A break below the most recent swing low of 27,403 would point towards a retracement of the wider rally from 26,914. Thankfully that swing low also represents the prior record high, thus adding greater value to 27,403 as support in any short-term pullback.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 40
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.