Skip to content

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

US markets roared ahead once more, while the DAX is also putting on a good show. 

Data trader
Source: Bloomberg

FTSE 100 falters due to sterling strength

A fresh higher high for the FTSE 100 yesterday, even one that didn’t last too long, still confirms that the buyers are in control. Renewed sterling strength on the back of possible Brexit deal news has knocked the price back towards 7400, but so long as 7371 holds, then the bullish short-term picture is intact.

A short-term rising trend from the 20 November low at 7350 is one to watch, and may suggest that support could materialise around 7390. A rally needs to clear 7473 in order to to create a new higher high.

FTSE 100 chart

DAX breaks out from descending trendline

A spike higher has broken DAX out of the descending trendline from the 21 November high, with the possibility that the way is now clear for a potential run back towards the recent record highs.

The 21 November high of 13,211 has still to be broken, but a retest of the downward trendline would still represent a potential buying opportunity.

DAX chart

S&P 500 clocks up new highs

A new record high for the S&P 500 provides yet further confirmation of bullish strength.

Previous highs at 2606, 2597, and 2588 are likely to provide support. 

S&P 500 chart

IGA, may distribute information/research produced by its respective foreign marketing partners 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.

This information/research prepared by IGA or IG Group is intended for general circulation. 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 or 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. In addition to the disclaimer above, 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.

See important Research Disclaimer.

Find articles by writer