FTSE 100, DAX and Dow all turning lower

Indices recovered from overnight lows, but their bullish momentum appears to be fading.

FTSE 100 supported around 5000 for now

The FTSE 100 finally pushed below the 5000 level yesterday, and while it has rebounded from the lows, the downtrend is still intact and rallies towards 5180 may find resistance, with 5400 from earlier in the week as the next target.

Fresh declines head towards 4830, as the price makes new lows. It must be said that dips below 5000 have found buyers, but so far upward movement is also lacking. Given the ongoing risk-off environment it may be difficult for the index to muster much bullish momentum.

DAX looks poised to move lower

For the DAX, rallies towards the 50 and 100-hour simple moving averages (SMA) continue to run into selling, but the past four days have seen furious buying of the dips below 8500.

But until we see higher highs and higher lows on the hourly chart the bearish view remains in place.

Dow bounces from overnight low

After being released from ‘limit down’ yesterday, the Dow Jones price dropped sharply to a new lower low, before rebounding to 20,500 and a lower high.

The downtrend is still in place, although we have seen a bounce in futures early this morning from 19,00. But the surge needs to clear 20,500 to create the first higher high, and then it targets 21,360. Fresh declines head back to 19,000.

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.