Levels to watch: FTSE 100, DAX and S&P 500
US markets are stuck in a range, but the FTSE 100 has managed to bounce after days of losses.
FTSE 100 pushes on from bounceback
Yesterday’s rebound put the FTSE 100 price back above the 50-day simple moving average (SMA), recovering the losses of the previous four sessions.
Now the 6920 area and then descending trendline resistance just below 7000 come into play. A breakout from there targets 7127 and then 7279. A more bearish view requires a move back below 6800.
DAX tries to break higher again
The pullback from the DAX's Friday high is still running its course, it seems, though dips below 11,180 have found buyers. If this support level remains in place then 11,250 and then 11,320 come into play, but we need to see a break above 11,250 first.
Yesterday’s attempt ran out of steam, and a second move higher later in the day also ran into resistance around this level. A close below 11,180 suggests a bearish view has developed.
S&P 500 remains in a range
Broadly, a range between 2620 and 2670 is now in place here, with the S&P 500 showing little inclination to extend itself in one firm direction or another. Overnight, the gains have stalled around 2650, but a short uptrend from Monday’s lows is still in place.
Above 2650, the 2670 zone comes back into play, with a daily close above here marking a resumption of the post-Christmas uptrend. Below 2620, the index may continue to move lower, potentially resulting in a retest of the December low.
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.
