FTSE 100, DAX 40 and S&P 500 look bid
FTSE 100, DAX 40 and S&P 500 look bid ahead of next week’s Fed monetary policy meeting.
FTSE 100 resumes ascent
The FTSE 100 recovers from its three-week low at 8,235, made near the 55-day simple moving average (SMA) at 8,239, and is about to overcome Thursday’s 8,331 high. Once bettered, the December resistance line at 8,357 will be in focus but may cap.
Below Friday’s 8,279 intraday low lies the November-to-December uptrend line at 8,260.
DAX 40 remains bid
The German DAX 40 has Monday’s 20,476 record high in its sight, a rise above which will lead to the 20,500 mark being eyed.
Minor support is found at Tuesday’s 20,260 low and further support around last Wednesday’s 20,264 high and Thursday’s 20,197 low. Still more important support can be seen around the psychological 20,000 mark ahead of the October peak at 19,683.
S&P 500 remains above wedge support line
The S&P 500 still consolidates below last week’s 6,099 record high but remains above its multi-month long wedge support line at 6,053 ahead of the weekend. Were it to give way, the psychological 6,000 mark would be back in focus.
A rise above last week’s high at 6,099 would engage the July-to-December resistance line at 6,127.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.
Take a position on indices
Deal on the world’s major stock indices today.
- 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
Prices above are subject to our website terms and agreements. Prices are indicative only
