CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

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

Indices have recovered, but there is more work for the bulls to do.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-10-22T09:52:49+0100

Video poster image

FTSE 100 moves to top of range

The FTSE 100 has been stuck in a range from 6900 to 7100 since its steep drop, and is now moving towards the top end of this range.

A daily close above 7100 would likely ignite a move towards 7220. A failure to break higher would suggest a return to the 6900 support area.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX tries to rally again

The DAX has also bounced from the support zone around 11,450. The first obstacle is the 11,850 high from last week.

A close above this would provide bullish momentum, and bring 11,900 and 12,200 into view. A daily close below 11,420 is required to open the way to fresh downside.

DAX chart

DAX chart

DAX chart

S&P 500 finds buyers above support

The week ended on a poor note for the S&P 500, but there has been fresh buying this morning.

Any rally needs to break 2820 to mark a bullish development, while a move back below 2740 would raise the prospect of a renewed drop to the October lows around 2710.

S&P 500 chart

S&P 500 chart

S&P 500 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.

Find an article

Find articles by writer

CFDS are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

This website is owned and operated by IG Bank S.A. Registered address at 42 Rue du Rhone, 1204 Geneva, authorised and regulated by FINMA.

The information on this site is not directed at residents of the United States and Belgium, or any particular country outside Switzerland and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.