Levels to watch: FTSE 100 and Dow

The FTSE 100 looks set for new record highs, while the Dow rebounds from a recent descending triangle formation.   

US stocks  figure

FTSE 100 heads to new highs

The FTSE 100 is heading into new territory as we see off 2017, with the push through 7600 on the 21st leading to a period of consolidation. The breakout from this consolidation is likely to be a bullish one, with an hourly close above 7616 providing a bullish breakout signal.

Alternately, a fall back below 7510 would negate that bullish outlook. 

 Dow bouncing from triangle support once more

The Dow Jones  is moving higher from the 24,693 support level this morning, with the index trading within a descending triangle formation. A break above 24,850 would point towards a bullish breakout from this formation.

However, until then there is a chance that short-term upside could simply bring us back into trendline resistance around 24,820. Watch out for a break below 24,693 or above 24,850 to dictate near-term price action.


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 IGA 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.