FTSE 100, DAX and Dow ease back after recent surge

FTSE 100, DAX and Dow eases back after the recent surge. Will it be a short-term blip?

FTSE 100 continues to consolidate below key resistance

The FTSE 100 has been limited in its upside over the past week, with the 7636 resistance level capping any upside as the index seeks to reflect the optimism of its peers.

A break through that 7636 level would bring about a more confident bullish outlook, negating the bearish break below 7525 seen on Tuesday. As such, watch for a break above 7636 to bring a bullish outlook, with the index able to move lower as long as we remain below that level.

DAX eases back after rally into trendline resistance

The DAX managed to break into a 23-month high last week, with the index bumping into trendline resistance. We have seen that rally ease back since, with the index just starting to rise again this morning.

With that in mind, we would need to see a break through the 13,551 peak to bring about a renewed bullish view. However, bear in mind the fact that we have the crucial all-time high resistance within touching distance around 13,601. To the downside, we would need to see a break below 13,429 to bring about a more bearish outlook.

Dow Jones pulls back after fresh highs

The Dow Jones has been on the slide since seeing fresh highs at 29,057. That signals a continuation of the wider uptrend, with the current pullback likely to be a retracement and precursor to further gains.

A break back through that 29,057 level would point towards another leg higher, while a deeper retracement remains a possibility until that happens.


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.

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

See opportunity on an index?

Don’t miss your chance. Try a risk-free trade in your demo account, and find out whether your hunch could have paid off.

  • 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 fixed spreads from 1 point on FTSE 100 and Germany 30
  • Trade more 24-hour indices than any other provider – 26 in total
  • Analyse and deal seamlessly on smart, fast charts

See opportunity on an index?

Don’t miss your chance. Log in to take advantage while conditions prevail.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Bid
Offer
-
-
China 300
-
-

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

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets 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 spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.