CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Levels to watch: FTSE 100, DAX and S&P 500

Indices continue to find buyers, as geopolitical tensions ease and earnings season provides a positive news flow.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-04-18T09:53:35+0100

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FTSE 100 claws back gains

The FTSE 100 recovered from Monday’s retreat, holding on to support around 7187. The next target comes in at 7300, and then 7345 and 7391.

Continued strength above 7200 will suggest that the buyers remain in control, with a move below 7187 and then 7153 required to indicate that the rally is seeing a deeper retracement.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX shrugs off recent weakness

Monday saw the DAX drop back to 12,400, but a recovery yesterday has seen it push back above the Monday high of 12,550.

There is still the 12,600-12,742 zone of resistance to clear, but for the time being dips have been firmly bought, and the bullish scenario remains intact unless we get a close below 12,268.

DAX chart

DAX chart

DAX chart

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S&P 500 continues to move higher

Earnings season and an easing of geopolitical tensions continues to provide fuel for gains in the S&P 500.

It has had little in the way of retracement, but any dip that holds above 2660 is likely to remain a buying opportunity. The push to the downtrend line from the January highs goes on, with 2740 being the key area to watch.

US 500 chart

US 500 chart

US 500 chart

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