FTSE 100, S&P 500 and Nikkei 225 under early pressure
Indices have struggled following Nvidia’s results last night, as the general cautious mood continues across markets.
FTSE 100 stumbles around 8100
The FTSE 100 index has steadily gained ground over the last week and was above 8100 in early trading before slipping back.
A low seems to be in place for the time being. Gains in early November stalled below 8200, so this the next target. 8300 provided support in September and October, which leaves this as another target. A close above here would leave the index free to test 8400.
FTSE 100 daily chart
S&P 500 struggles after NVIDIA earnings
NVIDIA's results last night didn’t provoke any significant volatility at the index level, and Wednesday’s session saw the S&P 500 finish near the highs of the day.
Some earl weakness this morning suggests indecision in the price action, though for the moment the short-term low from last week around 5850 is still in place. A further move higher targets the November record high at 6000. Meanwhile, a close back below 5830 would indicate renewed weakness, perhaps down towards the pre-election low around 5700.
S&P 500 daily chart
Nikkei 225 heads lower
Upward momentum has faltered here, and after a recovery off the lows yesterday the Nikkei 225 index has dropped back.
A close below Tuesday’s low at 37,700 could target 37,295, which was support at the end of September. Below this the price targets 36,000 and then the September low at 35,100. A reversal back above the week’s high at 38,540 would open the way to another test of 40,000.
Nikkei 225 daily chart
The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.
React to volatility on commodity markets
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
See opportunity on a commodity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on a commodity?
Don’t miss your chance. Upgrade to a live account to take advantage.
- Analyse and deal seamlessly on fast, intuitive charts
- Get spreads from just 0.3 points on Spot Gold
- See and react to breaking news in-platform
See opportunity on a commodity?
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.
