FTSE 100, DAX and Dow starting to show bullish resurgence signs
FTSE 100, DAX, and Dow attempt to regain ground following the recent declines, with a tentative push through resistance highlighting underlying bullish trend.
FTSE 100 regains ground after the recent retracement phase
The FTSE 100 has been on the back foot of late, with the index falling back into the 76.4% Fibonacci support level around 6538. That pullback looks to have provided a buying opportunity, with today’s rise through the 6648 resistance level providing a fresh bullish signal for the index. This push through SMA and horizontal resistance helps bring fresh optimism for the index, with a break back below the recent low of 6550 required to start raising questions over this recovery.
DAX rebounds towards key resistance after recent decline
The DAX has been attempting to regain ground after a decline into and briefly below the 13830 support level. That rebound provides us with a potential area to recover from, yet it makes sense to await a break through the 14034 resistance level to bring greater confidence in such a move. With that in mind, sentiment will be dictated by whether we move through 14034 or 13797 from here.
Dow Jones rebound breaks recent bearish pattern
The Dow has managed to push through the 31642 resistance level today, with yesterday’s gains ultimately ending the recent trend of lower highs. That points towards a potential continuation of the wider bullish trend from here. As such, while we are seeing the index turn lower here, there is a good chance we could see the price ultimately hold up within this consolidation phase to ultimately break higher.
Live prices on most popular markets
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 spread betting and CFDs.
Stay on top of upcoming market-moving events with our customisable economic calendar.
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.