FTSE 100, DAX and Dow still powering higher
Indices are still being bolstered by positive trade talk, with the DAX and Dow leading the way.
FTSE 100 creates new higher low
The FTSE 100 retreated from its high yesterday, but is attempting to stabilise around 7375.
If it can create a higher low here and push higher, then the 7440 area is the target to watch, with a breakout above here being a positive development in the longer term. Further weakness heads towards rising trendline support from the September low at 7320.
DAX targets previous record
The DAX’s early weakness this morning is already being met with some buying, as the relentless gains continue.
Until the index breaks back below 13,000 intraday dips will still be firm buying opportunities; a move below 13,000 would signal that a more extended period of near-term weakness is at hand. A bigger move higher targets the 13,600 peak from January 2018.
Dow pushing to fresh record high
A new record high for the Dow Jones yesterday was followed up by some weakness overnight, but already buyers are stepping in.
Even the smallest dip appears to be a reason to buy, with a drop below 27,620 targeting possible support at 27,400 and then 27,100. By all logic, some weakness should be due soon, but for now the uptrend shows no sign of slowing.
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
Live prices on most popular markets