Levels to watch: FTSE 100, DAX and S&P 500
The week has seen the steady recovery continue, and it looks like there is more to come for indices.
![Trader](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/bg_traders_charts_306299446.jpg/jcr:content/renditions/original-size.webp)
FTSE 100 keeps pushing higher
Yesterday’s retreat towards 6850 provided a new higher low for buyers to enter, the FTSE 100 then duly pushed to a new higher high in the current move higher.
Having moved above the 50-day simple moving average (SMA) of 6905, the index is now looking to test trendline resistance from the August highs, which would suggest resistance around 7050-7060. The longer-term picture remains bearish unless this line is broken. However, for the time being pullbacks look to be buying opportunities.
![FTSE 100 chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/ContentImage/FTSE 110119.png/jcr:content/renditions/original-size.webp)
DAX targets 11,000
Early weakness yesterday resulted in a higher low and then a higher high, as the DAX pushes on towards 11,000.
The 50-day SMA at 11,038 is the next target, while the support zone around 11,050 could also provide some resistance. The bullish view prevails in the short term unless we see a move below 10,800.
![DAX chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/ContentImage/Dax 110119.png/jcr:content/renditions/original-size.webp)
S&P 500 eyes up 2600
The steady move higher continues here, with the S&P 500 moving towards 2600 and continuing its recovery.
The next area of resistance to watch would be the 2624-2632 zone, marked by the lows of October and November, and the 50-day SMA. Immediate support is found around 2550.
![S&P 500 chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/ContentImage/SPX 110119.png/jcr:content/renditions/original-size.webp)
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.
![](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/Rebrand/Article_banners/Top-default-banner_CFD.jpg/jcr:content/renditions/original-size.webp)
See an opportunity to trade?
Go long or short on more than 13,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
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.