FTSE 100, DAX and S&P 500 futures stall without US assistance
Indices face a day of drift, as US volumes are out of the picture thanks to the Independence Day bank holiday.
FTSE 100 still struggling around 6250
The FTSE 100 has lagged behind, stalled at 6250 for the past week. A break above here opens the way to 6320, and from there on to 6500.
Dips to the zone around 6050-6200 have found buyers, so a break below this is needed to revive the bearish view.
DAX clears recent resistance
The DAX price has managed to clear 12,600, putting it above the area of resistance around 12,500 that has persisted for the past three weeks.
Further gains target 12,900, while a drop back towards 12,300 may encounter trendline support and establish a higher low.
S&P 500 futures looking stronger
The breakout from trendline resistance that we saw on Wednesday has continued for the S&P 500. With the US cash market closed today for a bank holiday, there may not be much movement, but above 3160 the index will push on toward 3240.
The bullish view remains in place unless we see a reversal below 3060, which would bring 3000 into view.
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
