FTSE 100, DAX and S&P 500 at risk of further falls
While indices have managed to recover from the lows of yesterday, the gains are already stalling.
FTSE 100 falters after rebound
The FTSE 100 recovered from the lows of the session yesterday, but gains have stalled below 6250, creating a possible lower high.
A renewed move lower targets 6050 and then on to 5950. A move through 6350 would be needed to suggest the buyers are back in charge, and would open the way to 6500 and the highs from the middle of the month.
DAX bounce runs out of steam
For the DAX too, the rebound seems to have run its course and having been unable to clear 12,400, the sellers look to be in the ascendancy.
Further declines target 12,000 and then, below this, 11,800 and 11,600. A more bullish view requires the price to move on above 12,500, clearing recent resistance.
S&P 500 creates lower high
For the S&P 500, while the price rebounded from Thursday’s lows, gains have stalled around 3090.
A renewed move lower from the current lower high targets 3020 and then 2950. If the price can move above 3100 then a more bullish view might prevail, but it would need to clear 3140 and trendline resistance from the 10 June highs to really suggest a fresh move higher is underway.
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
