FTSE 100, DAX and Dow look to recover from Monday losses
Indices fell back yesterday, but have managed to hold the overnight lows for the time being.
FTSE 100 struggles to move higher
For the FTSE 100, the sharp drop yesterday reinforces the view that a lower high below 6200 has been created, but for the time being the price is holding above 6090.
A move below this brings Friday’s low at 5990 into view, confirming the ongoing downtrend from 6 July. Alternatively, a rally through 6200 would suggest a more bullish view is emerging.
DAX still in uptrend
Yesterday’s reversal does not alter the picture of an ongoing uptrend for the DAX, but it does suggest some weakness is beginning to emerge.
Gains above 12,800 have proven impossible to sustain this month, so any longer-term rally needs to clear this level. The price is holding above 12,500, an area that has marked support so far this month, so a more bearish view requires a decisive push below this level.
Dow stumbles after early gains
The steep drop yesterday will get much of the attention but the Dow Jones price had established a higher high earlier in the day, reinforcing the more bullish view which has developed since the end of June.
The weakness seems to have been stemmed around 26,000, so if this holds another push higher may begin to emerge. A drop below 26,000 brings 25,400 into play, and then potentially back to 25,000.
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.
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. Please see important Research Disclaimer.
Please also note that 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.
Trade on commodities
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
1In the case of all DFBs, there is a fixed expiry at some point in the future.
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
