Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. 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. 72% of retail client accounts lose money when trading CFDs, with this investment provider. 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 pause within recent uptrend

FTSE 100, DAX and Dow start to pause after another day of strong gains yesterday.

Video poster image

FTSE 100 pulling back from key resistance

The FTSE 100 is easing back this morning, following on from a rally into the 6211 resistance level from late April. The recent uptrend remains intact given the continued creation of higher highs and lows, yet we could see the index pull back as we respect the 6211 level.

Nevertheless, unless we see the index fall below 6040, such a pullback would likely represent a short-term retracement rather than a wider reversal. As such, we could see short-term downside today, yet a bullish trend is in place unless that 6040 level is broken.

FTSE 100 chart Source: ProRealTime
FTSE 100 chart Source: ProRealTime

DAX breaking below trendline support within recent uptrend

The DAX has started to slow its ascent, with the price falling below a short-term ascending trendline. With the stochastic looking likely to break back below the 80 mark, momentum does seem to be rolling over just as the US-China issue reaches a head.

With that in mind, there is a chance we could see short-term downside in what looks likely to be a short-term retracement. As such, any short-term weakness looks like a brief pullback, with a break below 11,429 required to bring expectations of a more protracted retracement of the rally from 10,865.

DAX chart Source: ProRealTime
DAX chart Source: ProRealTime

Dow Jones remains elevated after recent surge

The Dow Jones has remained elevated over the course of this morning, coming off the back of a surge into the 25,800 level.

The uptrend remains intact whether or not we see a short-term pullback, with a bullish outlook in play unless we see a break below the 25,007 support level.

Dow Jones chart Source: ProRealTime
Dow Jones chart Source: ProRealTime

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
Find out more

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

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.