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

Markets have begun the week on the front foot, as US markets continue to record new highs.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-01-29T09:22:36+0000

Video poster image

FTSE 100 eyes near-term trend resistance

The FTSE 100 has fallen back from the highs of Friday, but is clawing back lost ground.

The short-term downtrend from the record highs remains intact, and a break of this would require a move above 7700. Above here, 7750 and then 7800 would come into play. Potential support comes in at 7600, followed by 7550 and then 7450.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX aims to push onwards

Given that it recorded a new record high last week, the DAX is in strong form.

However, 13,427 has become resistance once more, with 13,211 and then 13,095 as possible support. A move below 13,200 would create a new lower low in the short term, but in reality the uptrend only comes under threat with a move below 12,700.

DAX chart

DAX chart

DAX chart

S&P 500 resumes normal service

Having gapped higher, the S&P 500 is now moving back towards 2850 and potential support.

The 50 and 100-hour simple moving averages (SMAs) of 2850 and 2844 respectively, have proven key areas of support so far this month.

US 500 chart

US 500 chart

US 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.