FTSE 100 Struggles while Dax and Dow Hold Steady

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FTSE 100, DAX 40, Dow Jones Analysis and Charts

​​​FTSE 100 under pressure

​The index has fallen back for several days, retreating from 7700 and the lower high of early February.​Having broken above trendline resistance from the 2023 highs during late January, the price may now retest the broken trendline from above. This would also coincide with the 200-day simple moving average (ISMA). A recovery above 7600 might yet signal that a low has been formed.

​Additional declines target the late January low at 7400, and below this down towards 7250 and the support zone that lasted throughout 2023.

FTSE 100 Daily Chart

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Dax holds near 17,000

​The Dax continues to consolidate around 17,000, but remains above trendline support from the October low.​Mid-January weakness found buyers at the 50-day SMA, and in the short-term, a push to a fresh record high seems likely.

​A near-term retracement requires a close back below the 50-day SMA to open the path to January’s low at 16,345, with some possible support before this at the previous record high of 16,532.

DAX 40 Daily Chart

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Dow drifts through trendline support

​In what might be seen as a portentous development, the Dow is testing support from the mid-January low.​In the short-term, further weakness could follow, potentially clearing the way to another test of the previous highs at 37,825.

​Below this lies the 50-day SMA, and then down to 37,125, the low of December.

Dow Jones Daily Chart

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