FTSE 100, DAX and S&P 500 continue their ascent
Indices have shrugged off their weakness overnight, resuming their overall push higher.
FTSE 100 aims to resume upward move
The FTSE 100 has recovered from overnight weakness, pushing back towards Tuesday’s high.
Above here the next major target is 6203, the high from the end of April. This would bring the index back to the crucial area of the March gap down, and if 6200 is breached then 6400 comes into view. A reversal below 5900 would revive the view that a deeper near-term pullback is at hand.
DAX rally goes on
For the DAX, the steady ascent from the lows of late May continues, with no sign that it is poised to slow down.
Having closed the March gap down and moved above the 100-day simple moving average (SMA) at 11,530, the index continues to maintain the positive outlook, targeting 12,120, the 200-day SMA. Bears will need to see a reversal below 11,000 to provide an indication that some weakness is at hand.
S&P 500 pushes on after overnight weakness
Overnight weakness has been shrugged off, with the S&P 500 now heading towards 3130.
The continued slow grind higher comes despite expectations of some more near-term weakness, but this is unlikely to develop unless we see a reversal below 2900, which may bring 2800 into view and the support zone round 2780.
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
