FTSE 100, DAX and Dow surge ahead of lockdown easing
FTSE 100, DAX and Dow surge in anticipation of lockdown easing measures globally.
FTSE 100 surges towards key resistance level
The FTSE 100 has been on the rise since Friday's lows, with yesterday's closure for UK and US markets leaving much of the price action to mainland Europe and Asia. Ultimately, we are seeing a bullish surge take hold as traders prepare for a host of reopening measures throughout the world.
The success of those measures may not be known for some weeks, thus allowing for a more optimistic outlook for now. For the FTSE 100, the rally takes us closer to the crucial 6211 breakout level, which is the highest point reached within this recovery. With that in mind, we need to see a break through that level to really point towards a breakout and continuation. Until then, a break below the 80 mark on the stochastic could provide a more bearish short-term view.
DAX breaks resistance as bulls get in the hot seat
The DAX has reached the highest level since early March. The break through 11,342 brings a breakout from the consolidation mode seen since the beginning of April.
It is difficult to know exactly where this rally ends, yet we do have to keep an eye out for the 61.8% Fibonacci resistance level at 11,592. For the bears, it is worthwhile watching to see if we get a bearish break below the 80 level on the stochastic oscillator.
Dow Jones surges through resistance to bring multi-month high
The Dow Jones has broken through the 24,836-24,903 resistance zone this morning, with the index hitting levels not seen since early March. That breakout could bring further upside for the near term, yet the resistance point of note comes at the 61.8% retracement level of 25,229.
Once again, a more bearish picture comes into play from a momentum perspective if the stochastic drops below the 80 threshold. Nevertheless, we would ultimately need to see a decline through the 24,158 level to bring about a more consistent bearish view once more.
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.
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
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.
