Levels to watch: FTSE 100, DAX and Dow
The DAX and Dow are showing signs of a potential bullish phase coming into play. Meanwhile, the FTSE 100 remains stuck in consolidation mode ahead amid the heightened Brexit uncertainty.
FTSE 100 continues to consolidate
The 76.4% retracement around 7180 still remains a key area which has to be broken to point towards a possible move towards 7212. Alternately, a break below 7124 would provide a bearish breakdown signal. Until then, further consolidation looks likely.
DAX reversing from trendline resistance
The DAX has seen its gains limited, with trendline resistance helping send the market back into the 200-hour simple moving average (SMA).
A break below that moving average would provide an important sell signal. However, with the index providing lower highs and higher lows, the directional bias for this market is not clear right now. Thus, a break below 11,473 or above 11,622 would provide the bias from here on in.
Dow approaching key bullish breakout level
The Dow Jones has been regaining ground, with the price seemingly finding it tough to break through the 25,765 peak from Tuesday.
This area of resistance the Tuesday and Wednesday peaks (25,765-25,779) provides us with a key bullish breakout zone if broken. The longer-term charts do highlight the possibility of a wider retracement of the 26,241. However, for the near term, the ability to break through that resistance zone is going to be key for sentiment.
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
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.