CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Levels to watch: FTSE 100, DAX and Dow

Indices continue pushing, with new highs being set for many. With a short-term pullback seen this morning, this could be a good buying opportunity.

IG Analyst

Publication date : 2017-11-07T09:20:16+0000

DAX

Source: Bloomberg

FTSE 100 retracing after push into new highs

The FTSE 100 managed to break to a new five-month high overnight, pushing above the key 7565 level once again. We are seeing some weakness come into play here, yet further upside seems a likely eventuality.

The key support level to note is 7526. As long as that is not broken, any weakness would be seen as a buying opportunity.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX weakness brings buying opportunity

The DAX pushed into new highs overnight, with the index retracing somewhat this current hour. This provides another buying opportunity, with any short-term downside likely to be greeted by further gains.

So far, we have hit the 50% mark, yet any greater retracement would be a buying opportunity. This bullish view remains until the price breaks back below 13,453.

DAX chart

DAX chart

DAX chart

Dow channeling higher into new highs

The Dow Jones is on a clear upward trajectory, with the price maintaining a consistent pace over the past 24 hours. We are likely to see further upside, but beware of a possible retracement.

A break below trendline support would point towards the 23,554 level as near-term support. However, the price would have to break below 23,469 to negate the current bullish outlook.

Dow Jones chart

Dow Jones chart

Dow Jones chart

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 IG 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.

Find articles by writer

Disclaimer:

All forms of investments carry risks and trading CFDs may not be suitable for everyone. CFDs are leveraged instruments and can result in losses that exceed deposits, so please ensure that you fully understand, and are aware of, the risks and costs involved. Refer to the Risk Disclosure Statement and Risk Fact Sheet.

IG Asia Pte Ltd (Co.Reg.No. 200510021K) is regulated by the Monetary Authority of Singapore and holds a capital markets services licence for dealing in capital markets products that are over-the-counter derivatives contracts and is an exempt financial adviser.

IG provides an execution-only service. The information in this advertisement does not contain (and should not be construed as containing) investment advice or an investment recommendation, 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. You should consider 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.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

This advertisement has not been reviewed by the Monetary Authority of Singapore.