FTSE 100, DAX and S&P 500 all rallying
Indices have had a good start to the week, moving higher as global data suggests a slowing of infection rates.
FTSE 100 bounces off 5400
Since 27 March, dips to 5400 have been met with buying pressure for the FTSE 100, and we saw this again on Friday. This area continues to hold as support, providing a base for the price to rally and push through trendline resistance from the 26 March high.
Further gains in the short term head towards 5700 and then 5830, and then to 5900. A more bearish view needs the price to break below 5400, which would bring 5000 back into play as a possible downside target.
DAX rallies off low of trading range
For the DAX, dips to 9400 have provided support, while it has been unable to move above 10,100. The bounce from the low of the range now needs to clear resistance at 10,100 to provide a clearer uptrend, or it will risk a drop back towards 9400.
Once 10,100 and 10,200 are cleared, 11,100 becomes the next major target to the upside. A deeper drawdown requires a move back below 9400.
S&P 500 lifted off Friday lows
Dips to 2450 continue to find buyers, as we saw on Friday, and while the S&P 500 has managed to bounce from this level, it has yet to retest the 2650 highs from late March.
A failure to push on above this level would create a lower high, but as noted this more bearish view would need a move back below 2450.
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.
