FTSE 100, DAX and S&P 500 aim to break higher
Indices have spent the week in a holding pattern, although some signs of renewed bullishness have been seen.
FTSE 100 drifts sideways
The FTSE 100 price has moved sideways for several days now, holding close to 6300 over the last four sessions but unable to break above it.
Meanwhile, some small downside was held at 6150, providing a first ‘line in the sand’ in the event of any push lower. If this is broken then 5950 comes into view. Alternatively, a rally through 6300 could mark a resumption of the longer-term move higher, opening the way to 6400 and then 6500.
DAX held below resistance
The DAX, too, has been stuck below resistance, with 12,400-12,500 acting as a ceiling to further gains.
A break through this zone would open the path to 12,750 and then 12,950. Weakness over the past few sessions has been confined to 12,150, with buyers coming in around these levels. A drop below here then resumes the move lower, targeting 11,600, the low from last week.
S&P 500 stalls after gains
While the S&P 500 has not been able to muster much bullish momentum since Monday’s rally, being stuck below 3150, it has also found support around 3080.
A break higher, through 3160, opens the path to 3220. On the other hand, below 3070 the price could push back towards last week’s lows at 2940.
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.
