Levels to watch: FTSE 100, DAX and S&P 500
For once it is the FTSE 100 that is providing the bullish outlook, contrasting with weakness in the DAX and a range-bound S&P 500.
FTSE 100 notches up fresh gains
The FTSE 100 has posted higher highs and higher lows from its low at 7040 last week. Fresh gains target 7220, 7230 and then the February high of 7262.
A move above this last potential level of resistance would also put the index back above the 200-day simple moving average (SMA). From here trendline resistance from the all-time high would come into play and suggest that 7470 is the next area of resistance to watch. A drop below 7130 might suggest the move higher has run its course, and then 7040 becomes the area to watch for support.
DAX holds on to uptrend
Yesterday saw the DAX unable to move above 11,640, but the overall upward move from the February low at 10,870 remains intact.
A close below 11,530 would be viewed as potentially bearish, bringing 11,420 into play. A recovery above 11,640 brings the 11,684 highs from Monday into play.
S&P 500 floundering after Monday’s fall
A fresh close above 2800 continues to elude the S&P 500, but the low from Monday’s sudden drop has yet to be tested.
Below 2766, the price could find support around 2735. Further gains would target 2800 and then 2820.
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.
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, 1.2 on the Germany 40, and 0.4 on the US 500
- 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, 1.2 on the Germany 40, and 0.4 on the US 500
- 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.
