Mixed picture for FTSE 100, DAX 40 and S&P 500 amid easing tariff concerns
Mixed picture for FTSE 100, DAX 40 and S&P 500 amid easing tariff concerns ahead of US/China talks.
FTSE 100 in recovery mode
The FTSE 100 is heading back up again amid hopes for a resolution regarding US tariffs.
Resistance above the 24 January high at 8587 lies at Friday's gap low at 8630.
A fall through Monday's low at 8509 would put the May 2024 peak at 8479 on the cards.
FTSE 100 daily chart
DAX 40 under pressure
The German DAX 40 index is range trading above Monday's low at 21,092 but below its remaining 21,562-to-21,596 gap.
Key support remains at the 21,080 late January low, a fall through and daily chart close below which could lead to a medium-term top being formed. In this case, the first downside target would be the mid-December high at 20,526.
Minor resistance sits at Tuesday's and the 24 January highs between 21,521 and 21,529 ahead of Friday's 21,596 low.
DAX 40 daily chart
S&P 500 short-term side-lined
The S&P 500 once more managed to close its gap with its previous Friday low, just like the week before, but now trades sideways below its Monday-to-Tuesday highs at 6042 whilst so far remaining above its 55-day simple moving average (SMA) at 5992.
Below it, Tuesday's low at 5962 may offer minor support. If not, the late January low and Monday's trough between 5916 and 5912 would be back in focus. Failure there may push the mid-November-to-January main support zone from 5772 to 5832 to the fore.
A rise above the recent 6042 high may put the 6099 December peak back on the map.
S&P 500 daily chart
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
