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FTSE 100, DAX 40 and CAC 40 Continue to Range Trade

FTSE 100, DAX 40 and CAC 40 Continue to Range Trade

Axel Rudolph, IG Senior Market Analyst

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FTSE 100, DAX 40, CAC 40 -Analysis and Charts

​​​FTSE 100 range trades below last week’s high

​The FTSE 100 continues to trade above the 55-day simple moving average (SMA) at 8,200 but below last week’s high at 8,290. A rise above Friday’s 8,290 high and the 7 June 8,306 high would put the early June high at 8,364 on the map. A fall through Friday’s low at 8,187 could provoke a sell-off to the 8,138 late May low, though.

FTSE 100 Daily Chart​

FTSE 100 Mixed
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -9% 4% -2%
Weekly -3% -7% -5%
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DAX 40 sideways trades around 50% retracement

​The DAX 40 continues to oscillate around the 50% retracement of the April-to-May advance at 18,170 while range trading below last week’s 18,260 high and Wednesday’s 18,053 low as the German Ifo business climate index is published. A rise above 18,260 would put the 55-day simple moving average (SMA) at 18,326 and the 18,361 early June low on the cards.

​Minor support can be seen at Monday’s 18,125 intraday low.

​ DAX 40 Daily Chart

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CAC 40 recovers from its 4 ½ month low

​The French CAC 40 index is finding it difficult to recover from its mid-June sharp over 5% loss and instead is still trading along the 200-day simple moving average (SMA) at 7,627. ​A rise above last week’s high at 7,685 is needed for the 7,704 late January high to be in focus.

​Minor support below Monday’s 7,590 intraday low can be spotted at Wednesday’s 7,559 low, below which lies the current June low at 7,464. ​Were a fall through 7,464 to occur, the December peak at 7,653 may offer support. If not, a drop toward the 7,281 January trough may be in the frame.

CAC 40 Daily Chart

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