Levels to watch: FTSE 100, DAX and Dow

Indices continue to exhibit bullish tendencies, with the FTSE 100 in particular showing strong momentum. 

FTSE 100 circles all-time high

After another spike higher yesterday, the FTSE 100 is within easy distance of its all-time high at 7796.

The straight-line move shows no sign of stopping, with another dip to the rising trendline suggesting a bounce from around 7566. The Bank of England (BoE) meeting today might prompt a rebound in sterling, which could result in a potential buying opportunity here.

DAX finds new upside targets

Having pushed above 12,954, the targets on the upside for DAX are now 13,200 and then 13,600.

A dip to the rising trendline around 12,800 would still provide a good buying opportunity. So far, there is no sign of any bearish price action.

Dow continues gaining

The gains continue here for Dow Jones although the price has yet to break above the mid-April high of around 24,860.

Near-term support comes in at 23,831 and then 23,112.

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