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FTSE 100, Dax and Dow Move Higher in Early Trading

FTSE 100, Dax and Dow Move Higher in Early Trading

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Article by IG Chief Market Analyst Chris Beauchamp

FTSE 100, DAX $0, Dow Jones Analysis and Charts

​​​FTSE 100 finds support at 7500

​The previous three sessions have seen the index dip to 7500, but buyers have come in to defend this level each time. ​This leaves open the possibility of a renewed move back to 7700, and then on to the highs of May around 7800. So long as 7500 holds then the bullish view could still recover its pre-eminence.

​​A close below 7450 would be bearish, and open the way to a move to the July lows around 7200.

FTSE 100 Daily Chart

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Dax 40 holds 15,700 again

​The declines appear to have stabilised for now, and the 15,700 level continues to hold as support. ​A close back above 16,000 might signal a new move higher has begun, allowing the index to target the recent record highs and then move higher.

​​A close below 15,700 brings 15,500 and then the 200-day SMA into view.

Dax 40 Daily Price Chart

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Dow Jones steady after Tuesday rebound

​Tuesday saw the index rebound from its lows, though as yet there has been little follow-through in early trading. ​Most of the gains from the lows of June are still intact. A close back above 35,500 could put the buyers in charge once again, and then open the way to 35,860, last seen in February 2022.

​A close below 35,000 could provide the catalyst for a move back to the 50-day SMA.

Dow Jones Daily Chart

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.