Article by Chris Beauchamp, Senior Market Analyst at IG
Dow Jones, Nasdaq 100, CAC 40 Analysis, Prices and Charts Dow Dow is heading back towards 34,000
daw Heading back towards 34,000
After making progress yesterday, the index has stalled in the short term. A further rise above 34,000 could revive the bullish outlook and open the way to 34,500. A rebound above the 50-day SMA this week helped form a higher bottom after rebounding from the late-May low. It may take a reversal below the 50-day SMA to invalidate the current bullish trend.
Dow jones daily price chart
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Nasdaq 100 about 15,000
After a modest decline, the price has recovered over the past two sessions. This puts it on track to challenge the high of 15,260 from June.
From here, the next big level would be 15,760 peaks in September 2021, and then to 16,630 index highs.
Nasdaq 100 daily price chart
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CAC 40 highest level in one week
It seems that the rebound of the past three days will continue, and the next target is the 50-day simple moving average, and then to the trend line resistance from the April high.
A break above this and the mid-June highs would then open the way to 7500 and then the April high of 7600. It would need to drop back below 7100 to suggest that a medium term bearish outlook is developing.
CAC 40 daily price chart
