Levels to watch: FTSE 100, DAX and Dow

Indices continuing the downside seen towards the end of last week, with further downside looking likely.

FTSE 100 tanks at the open

The FTSE 100 has been selling off sharply at the open, continuing the story of weakness set into play since breaking below the 7662 swing low on Friday.

This fits into the wider range which has been in play over the past month, pointing towards the possibility of a break down towards the 7570 lower echelons of the range. With that in mind, there is a good chance we will see the price continue to trend lower, as long as we do not rally above the 7657 level. Until that happens, a bearish outlook remains in play.

DAX falls into the 76.4% retracement

The DAX dropped into the 76.4% retracement on Friday, with the price consolidating ever since.

There is a possibility that we will see a push higher from here, with a fall below the 12,390 level required to drive a wider bearish picture.

Dow drifting lower amid gradual turnaround

The Dow Jones fell back towards the end of last week, with that weakness continuing this morning.

The break below 24,988 set us on a more bearish pathway, which could easily continue from here, with a rally above 25,125 required to negate this short-term bearishness. 

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