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Levels to watch: FTSE 100, DAX and S&P 500

Bargain hunters are active in equities, after US markets moved off their lows and Asia witnessed a positive session.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-10-12T09:43:15+0100

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FTSE 100 retakes 7000

The FTSE 100 found support right on the 6919 lows from February, an eerie reminder of the sell-off at the start of the year.

It has continued its recovery and moved back above 7000. Yesterday’s highs at 7088 could provide some resistance, but a close above here would be a good first step in any recovery.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX recovers from lower low

The DAX clocked up a new lower low this week in the general sell-off, but a rebound from 11,426 is now gathering strength.

Thursday’s high of 11,700 is the first area to breach, and then from there 11,800 and 12,100 come into view.

DAX chart

DAX chart

DAX chart

S&P 500 surges off the lows

We have seen the price rally off the lows, and now the S&P 500 is attempting to hold above the 200-day simple moving average (SMA) at 2768.

This would be a symbolic achievement for the bulls, but a close above 2800 would be the more substantial victory.

S&P 500 chart

S&P 500 chart

S&P 500 chart

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