Levels to watch: FTSE 100, DAX and S&P 500
Indices recovered to an extent at the end of last week, and some bullish follow through has been seen so far this morning.
FTSE 100 targets 7200
The FTSE 100 rebounded on Friday, rallying off trendline support from the 28 February lows.
Now it must break trendline resistance from the 15 February high, which would require a push back above 7200. From there 7262 comes into play as resistance, and then downtrend resistance from the all-time high, indicating a move through 7500. A renewed bearish view would develop with a drop below 7070.
DAX bounces from vital support
Friday witnessed a bounce from 11,400 for the DAX, a key zone of support from late February. If this continues to hold then 11,600, 11,650 and then 11,680 are the recent peaks to watch for resistance.
A recovery back above 11,550 would likely signal that the buyers are back in charge. A close below 11,400 is needed to suggest that more downside is ahead and would then bring 10,945 into view as possible support.
S&P 500 mixed after recovery
If Friday’s rebound fails to make further progress, then a fresh lower high will have been created for the S&P 500.
Additional gains target 2775 and the previous intraday lower high. From there 2815 is the area to watch, the high from the end of February and then the all-time highs at 2940 are back in sight. A turn lower from below 2760 would head to 2720 support and then to 2683.
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.
