Levels to watch: FTSE, DAX and Dow

Despite a bounce in the short-term, sellers seem to be taking over once again.

Trader watching screen
Source: Bloomberg

FTSE 100 pushed lower again
A bounce from near 5850 yesterday took us back to 6000 during the overnight period, but resistance around the latter point has pushed the market lower once again. Until this c.150-point range is broken, the picture remains inconclusive.

Short-term traders will continue to take advantage of the move, but those looking at daily charts will remain frustrated. A move through 6000 targets 6115 and then 6200, while below 5850 we look to 5764. 

DAX heading lower once more
Yesterday’s bounce on the DAX failed to get anywhere near the highs from Wednesday, so with the index heading lower the Thursday lows around 9700 come into play.

Below this we are heading towards 9490 and then 9374. Any bounce has to clear 9998, to take us back towards the week’s high around 10,155.

Dow drifting despite bounce
Despite the overnight bounce the index continues to drift lower. While some support is possible around 16,154, the next target is 15,911 and then 15,794.

Those looking for a bounce are likely to be disappointed, with resistance entering the frame around 16,318, and then on towards 16,500 and 16,600.

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