FTSE 100, DAX and Dow consolidation expected to bring fresh push higher
FTSE, DAX, and Dow consolidation likely to ultimately resolve in another push towards the upside.
FTSE 100 rallies back into Friday’s high
The FTSE 100 has managed to push back into the recent high of 7041, with the index largely warding off selling pressure evident on Tuesday.
The ongoing recovery phase points towards a potential move into the 7070 resistance level given the current break through 7041.
From a wider perspective, we would want to see a rise above 7151 to entirely negate the declines seen in mid-July and confirm the uptrend once again.
DAX pausing after recent recovery move
The DAX has been attempting to regain ground over the past 10-days, with price on the rise after a wider 76.4% Fibonacci retracement.
While Tuesday saw a break back below 15542 support, the lack of follow-through highlights how we are likely to head higher before long.
Watch for a push through the 15641 level to build a more bullish picture once again, with the index likely to grind lower until that upside break occurs.
Dow Jones likely to push into fresh highs before long
The Dow has seen a brief move into the 76.4% Fibonacci support level at 34858 this week, with the downside moves proving somewhat limited in nature.
A break back below 34761 would signal a potential wider retracement coming into play. Until then, another move higher looks likely from here as we build on the bullish trend.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
