FTSE 100, DAX and S&P 500 attempt to push higher
The overall move higher continues, although indices have retreated from the peaks seen on Tuesday.
FTSE 100 breakout continues
The FTSE 100 hit a new higher high yesterday in its continuing breakout, but has fallen back overnight. The price has, for the time being, found support above 5570, but a continued positive view requires a move back above 5700.
Below 5570 a more neutral view emerges, targeting 5500. Further below this, the 5350 zone comes into play, which acted as support in late March and early April.
DAX pushes higher from overnight low
Most of the April gains are intact for the DAX, but we have seen some overnight weakness. However, the price is fighting to hold above 10,200 and also above the 50-hour simple moving average (SMA).
Fresh gains head towards 10,600, while a drop below 10,100 would begin to suggest a deeper retracement that might bring 9400 into view once again.
S&P 500 edges back from higher high
A fresh higher high in the ongoing push higher was recorded overnight for the S&P 500, and while the price is coming under pressure, it is still in an uptrend.
Any pullback that holds above 2450 is still a higher low and maintains the uptrend. Further gains target 2750 and higher.
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.
