FTSE 100 Bounces Back, Dax and Dow Surge Ahead
The FTSE 100 has witnessed a recovery over the past two days, reclaiming ground lost during Tuesday's downturn.
NEWS
2/16/20241 min read
FTSE 100 Bounces Back, Dax and Dow Surge Ahead
FTSE 100, DOW JONES, DAX 40: ANALYSIS AND CHARTS
FTSE 100 Rebounds
The FTSE 100 has witnessed a recovery over the past two days, reclaiming ground lost during Tuesday's downturn. The index now sets its sights on the 7700 high from early January, with further gains potentially leading to the late December peak at 7750. With a higher low established this week, bullish sentiment gains traction, signaling a potential resurgence after a mixed performance in January and February.
FTSE 100 DAILY CHART
A return below 7540 and the 200-day simple moving average (SMA) could signal a shift towards a more bearish outlook.
Dax Hits New Highs
After consolidating in late January and early February, the Dax has broken higher, surpassing the 17,000 mark and reaching a fresh record high. Support at the 50-day SMA has reinforced the upward momentum, indicating potential for further gains.
A reversal below the 50-day SMA may suggest a retracement towards support levels at 16,532 and 16,346.
DAX DAILY CHART
Dow Sets Sights on 39,000
Following a minor setback on Tuesday triggered by US inflation data, the Dow Jones is back on an upward trajectory. Further advances could propel the index to new all-time highs, with the 39,000 mark within close reach.
A drop below 38,000 would be needed to indicate a potential deeper pullback.