CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

FTSE 100, DAX and S&P 500 all rally from overnight low

Indices dropped back overnight, but signs of some buying are evident as the new session gets underway.

FTSE 100 rebounds after weakness

While the FTSE 100 was unable to hold on to all the gains made yesterday, it has so for now avoided dropping below support to 5730. Further gains head towards 5850, and then on to 5900 and 5940, the latter being the high from mid-April.

If this latter level is breached then we have a higher high, confirming the current uptrend. Alternatively, bears need to break 5730, and then push below Tuesday’s low at 5625.

DAX remains in trading range

The DAX created a lower high yesterday at 10,600, but the price has once again begun to bottom out above 10,200, as it has done twice before this month.

A rebound targets 10,600, and then on to 10,800. Bears will want to see the price drop through 10,200 to suggest additional downside is in play.

S&P 500 edges up from overnight lows

The S&P 500 fell back overnight but for now has found support around 2760. Further gains head to 2850, and then to 2900.

Alternatively, a more bearish view would see the index below 2760, and then through key support at 2720.

This information has been prepared by IG, a trading name of IG 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.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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