FTSE 100, DAX and Dow all off recent highs

Indices are still higher compared to Monday, but have dropped back from their mid-week highs.

FTSE 100 stuck below 5700

The FTSE 100 tried twice yesterday to breach 5700, but failed, and has now fallen back towards the 50-hour simple moving average (SMA) at 5460.

The area around 5400 has been both support and resistance recently, so if this holds another bounce may develop, but it will need to clear 5700 to provide a further extension of the current bounce. A move back below 5200 negates the bullish view and suggests further downside.

DAX tries to move higher

Here, too, we have been unable to hold all the gains of the past few days, but the DAX is still firmly up compared to the lows of Monday.

For now, the 10,000 area is acting as resistance so a move above here revives the current uptrend, while a drop below 8700 would likely spell more downside for the time being.

Dow drops back after gains

While the Dow has fallen back from the highs of the week, it remains in an uptrend, and only a fall back below 20,000 would start to negate the bullish view.

Indeed, given that it is still up 14% from the lows of Monday, some form of pullback was to be expected. If it can create a higher low around 21,000 then another attempt to push higher may develop.

IGA, may distribute information/research produced by its respective foreign affiliates 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.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. 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, and 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.

Please see important Research Disclaimer.

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

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

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.