Levels to watch: FTSE 100, DAX and Dow

FTSE 100, DAX, and Dow have all moved into trendline in one form or another. With uptrends still in play, this could be a good buying opportunity for indices.

FTSE 100 falls into support trendline

The FTSE 100 has retraced into trendline support this morning, as the index pauses within an uptrend that has been in play throughout the past fortnight.

A break below 7370 would bring about a more bearish outlook. Until then, we look likely to push upwards from here in a continuation of the current intraday uptrend.

DAX finds support on minor swing low

The DAX has retraced into the 11,911 swing low overnight, with the recent uptrend coming into question.

A break below that level would give us greater confidence of a bearish breakdown from here. However, until then there is a good chance we could see the bulls come back into play today. Given the shallow retracement we have seen this far, a break through the 12,032 level would also serve as a good bullish signal.

Dow finds support at prior resistance level

The Dow Jones has been moving lower, with the price falling into the 26,241-26,277 zone. That zone represents the February and November peaks, which are now expected to provide support rather than resistance.

Given that we have moved lower into a deep retracement between the 61.8% and 76.4% Fibonacci levels, this looks like a good buying opportunity, with a bullish outlook in play unless we break below 26,123.

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 30
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
China 300
-
-
-
-

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.