FTSE 100 bounces back while DAX 40, S&P 500 trade close to record highs
FTSE 100 bounces back while DAX 40, S&P 500 trade close to their record highs as upside momentum is slowing.
FTSE 100 rises again
The FTSE 100 is heading back up towards its six-week high at 8,389 and should keep it in its sights as long as Friday’s low at 8,290 underpins on a daily chart closing basis.
Above the current December peak at 8,389 lie the 8,397 October high as well as the early and late August highs at 8,404-to-8,419. If overcome, the 8,500 mark would be eyed.
Minor support remains to be seen between the late October and late November highs at 8,326-to-8,319. While last week’s low at 8,290 underpins, the short-term uptrend remains intact.
DAX 40 on track for seventh daily gain in a row
The German DAX 40's rally has taken it to a new record high on Monday morning at 20,476, close to the psychological 20,500 mark. Below it the index is expected to now range trade with a loss of upward momentum.
Minor support can now be found around Wednesday’s 20,264 high and Thursday’s 20,197 low. More significant support can be seen around the psychological 20,000 mark ahead of the October peak at 19,683.
S&P 500 range trades below last week’s record high
The S&P 500 continues to make new record highs and has so far risen to 6,099 on Friday. Further range trading around the 6,100 mark is expected to occur in the course of the week.
Above last week’s high at 6,099 lies the July-to-December resistance line at 6,122 whereas support can be seen at the 6,026 November peak.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
