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FTSE 100, DAX and Dow expected to push higher once more

FTSE 100, DAX, and Dow looking likely to push higher after recent retracements.

FTSE 100 upside likely after recent consolidation

The FTSE 100 continues to consolidate after last weeks rally into 7389. The wider trend points towards a likely rally to break out from this pattern, with a rise through 7350 bringing that bullish signal.

As such, while we could see short-term consolidation, it is likely we will see a bullish surge come into play before long. A break below 7200 would be required to bring about a wider bearish picture.

DAX regaining ground after respecting key support

The DAX failed to break below 12,305 on Tuesday, with the respect of that support level giving way to upside in the following days.

We are continuing that upside in the current candle, with the price attempting to build towards the previous high of 12,496. Essentially, the directional bias will be better determined with a break through either 12,496 or 12,305.

Dow seeking to push higher after recent pullback

The Dow Jones is starting to look bullish once again, with the recent retracement into 61.8% Fibonacci support bringing about rise through the short-term resistance level of 27,121.

This signals a potential continuation of the uptrend that has been in play over the past month. A break below 26,714 would be required to bring about a more bearish picture.

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.

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