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FTSE 100, DAX and Dow expected to rise after bullish breaks

​FTSE 100, DAX and Dow have all broken through key resistance, with further upside to come.

FTSE 100 heading higher after recent breakout

The FTSE 100 has been grinding higher over recent days, bringing the price back into the highest level in almost three weeks.

The recent break through 7231 provides a bullish signal, negating the formation of lower highs seen throughout the past month. Thus, further upside does look likely from here, with the next hurdle coming at 7305.

DAX pushing upwards following bullish break

The DAX also managed to break through key resistance, although this market is more advanced in that move having taken out both 11,854 and 11,862 peaks.

The price is starting to turn higher once again following weakness into the Friday close, with the recent uptrend expected to continue. With that in mind, it is worthwhile watching out for another surge from here, with a break below 11,844 required to bring questions to the short-term picture.

Dow pullback unlikely to last

The Dow Jones also saw some weakness to end the week, coming off the back of a key breakout through 26,379 and 26,426 swing highs.

That breakout points towards further upside to come, with this recent pullback looking like a precursor to further gains. Given the potential for another wider retracement, it may make sense to watch out for a break through 26,551 to provide a signal that we are going to push higher from here.

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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