Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

FTSE 100 draws away from resistance, as DAX and S&P 500 edge sideways

Yet again the FTSE 100 has failed to clear 6300, while the DAX and S&P 500 are seeing bullish momentum fade for now.

Indices Source: Bloomberg

FTSE 100 fails at 6300 yet again

A rally through the 6300 resistance zone continues to elude the FTSE 100. Yesterday saw the price fail to make much headway, with gains faltering below 6280.

A deeper retracement now brings 6200 into view, and then down to 6080. A more bullish view requires the price to clear 6350 to ensure resistance has been broken.

FTSE 100 chart Source: ProRealTime
FTSE 100 chart Source: ProRealTime

DAX edges higher

By contrast the DAX has shown no sign of similar weakness.

Admittedly, it has yet to push through the higher high from Wednesday’s session, but it continues to cling on above the 50-hour simple moving average (SMA) of 12,884. If the price clears 13,000 then it will form a new higher high, while a deeper pullback could see the 200-hour SMA at 12,701 tested once more.

DAX chart Source: ProRealTime
DAX chart Source: ProRealTime

S&P 500 continues to drift

The S&P 500 has failed to make much headway over the past 72 hours, although the uptrend from the 29 June lows is still intact.

For now however bearish momentum is building as the price fails to clear 3220, and a deeper pullback heads towards 3130, where recent weakness over the past three weeks has found buyers.

S&P 500 chart Source: ProRealTime
S&P 500 chart Source: ProRealTime

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 40
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.