Skip to content

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Levels to watch: FTSE 100, DAX and Dow

The US markets continue to dominate, with consolidation in the FTSE 100 and DAX continuing, despite fresh highs for the Dow.

Video poster image

FTSE 100 challenging key support level

The FTSE 100 is testing the 7764 support level once again this morning, with the long-term uptrend beginning to come under some pressure.

The 7751 level is the most notable area of support, which would have to break for the price to begin looking more bearish. Until then, watch for a potential bounce to continue the recent uptrend.

DAX consolidates around trendline support

The DAX has been respecting an ascending trendline support over recent trading days, with this morning’s bounce reaching (and rejecting) the 13,296 intraday swing high.

The break above 13,296 (bullish), or below 13,166 (bearish), would provide us with the signal of where this market is moving next. Ultimately, even if we do break lower, this current pullback is seen as a retracement of the wider rally from 12,742.

Dow continues to outperform

The Dow Jones remains a more attractive proposition over its European counterparts, with the tax reform and weaker dollar impact helping drive further upside.

As we continue to push to new highs, watch for the continued creation of higher highs and lows. As such, a bullish short-term view remains, as long as the price is above 25,896.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by writer