Levels to watch: FTSE, DAX and Dow

Once again markets are in the ascendant, with the US in particular making great strides as Christmas gets ever closer. 

Source: Bloomberg

FTSE 100 could find support at 6070

Overnight gains have been added to this morning, pushing through the highs of last Thursday around 6165. A move through here heads towards 6205 and then 6273 for the FTSE 100

The rising hourly trendline continues to hold, so support may come in around 6070 if the morning bounce dissipates.

DAX eyes 11,400

The price finds itself on the up yet again, but it has yet to push through the 10,800 area that would signal a new breakout is underway.

If this is achieved then we look towards 11,000 and onwards to the late November highs near 11,400.

A failure to push on brings support for the DAX around 10,430 and then 10,300 into play.

Dow could reach 17,800

The US staged a good recovery last night, with futures moving higher this morning as well.

While there may be some resistance around 17,500, the next target for the Dow Jones is 17,652, and then on towards 17,800, the 17 December high.

A breakout from here would head towards 18,000. Support is possible around 17,376 and then 17,275. 

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.