FTSE 100, DAX and S&P 500 aim to break higher
Indices have spent the week in a holding pattern, although some signs of renewed bullishness have been seen.
FTSE 100 drifts sideways
The FTSE 100 price has moved sideways for several days now, holding close to 6300 over the last four sessions but unable to break above it.
Meanwhile, some small downside was held at 6150, providing a first ‘line in the sand’ in the event of any push lower. If this is broken then 5950 comes into view. Alternatively, a rally through 6300 could mark a resumption of the longer-term move higher, opening the way to 6400 and then 6500.
DAX held below resistance
The DAX, too, has been stuck below resistance, with 12,400-12,500 acting as a ceiling to further gains.
A break through this zone would open the path to 12,750 and then 12,950. Weakness over the past few sessions has been confined to 12,150, with buyers coming in around these levels. A drop below here then resumes the move lower, targeting 11,600, the low from last week.
S&P 500 stalls after gains
While the S&P 500 has not been able to muster much bullish momentum since Monday’s rally, being stuck below 3150, it has also found support around 3080.
A break higher, through 3160, opens the path to 3220. On the other hand, below 3070 the price could push back towards last week’s lows at 2940.
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.
- 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
Prices above are subject to our website terms and agreements. Prices are indicative only
