Article by IG Chief Analyst Chris Beauchamp
FTSE, Dax, Dow Jones – Costs and Charts
FTSE 100 continues to rise
After surging final week the index’s transfer larger has slowed, however It has held on to the good points made. With the worth now above the 100-day SMA a extra bullish view may start to prevail. It has additionally cleared trendline resistance from the April excessive. This now opens the best way to 7800 after which the April peak at 7925.
A transfer again beneath 7550 can be wanted to reverse this outlook, after which beneath 7500 a bearish view prevails once more.
FTSE 100 Every day Worth Chart
Dax struggles to maneuver larger
The index has struggled to make headway, though small good points have been made during the last week.The worth stays near the highs of June, however for the second the consumers appear unable to muster the energy to drive the index above 16,300 after which on above June’s file excessive.
A drop again beneath 16,000 may carry the 15,700 assist stage into play as soon as once more.
DAXDaily Worth Chart
Dow is regular at latest highs
The index hit a brand new excessive for the 12 months yesterday, however some nervousness forward of extra large earnings and tonight’s Fed choice meant it was unable to carry its good points. After the surge from the July low, the index seems to be over-extended within the brief time period. A pullback in direction of 34,500 might create the next low.
Additional good points from present ranges would goal 36,000, after which on to 37,000, the height from January 2022.
DowJones Every day Worth Chart
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