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Levels to watch: FTSE 100, DAX and Dow

Indices continue to exhibit bullish tendencies, with the FTSE 100 in particular showing strong momentum. 

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FTSE 100 circles all-time high

After another spike higher yesterday, the FTSE 100 is within easy distance of its all-time high at 7796.

The straight-line move shows no sign of stopping, with another dip to the rising trendline suggesting a bounce from around 7566. The Bank of England (BoE) meeting today might prompt a rebound in sterling, which could result in a potential buying opportunity here.

FTSE 100 chart

DAX finds new upside targets

Having pushed above 12,954, the targets on the upside for DAX are now 13,200 and then 13,600.

A dip to the rising trendline around 12,800 would still provide a good buying opportunity. So far, there is no sign of any bearish price action.

DAX chart

Dow continues gaining

The gains continue here for Dow Jones although the price has yet to break above the mid-April high of around 24,860.

Near-term support comes in at 23,831 and then 23,112.

Dow Jones chart

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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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.