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 continuing to move higher

Indices were unable to keep pushing higher last week, but also managed to avoid much downside and with an early recovery from a weak open in play, further bullish momentum may develop.

FTSE 100 still held in a range

The FTSE 100 spent most of last week in a range, after the rally from 5950 on Monday stalled at 6300.

Gains above here proved impossible to sustain, but downside was limited to the 6150-6200 zone. A rally through 6300 opens the path to 6500, while below 6150 a return to 5950 could be contemplated.

DAX looks to clear last week’s highs

For the DAX too, Monday’s bounce was not followed up with further gains, as 12,400-12,500 limited the upside.

Early weakness saw the index below 12,100, but this has been reversed with a recovery above the 12,150 level that marked the lower bound for most of last week. Bulls now need to push on through the zone around 12,450 that marked last week’s highs, while bears will want to see a push back below 12,100 that could open the way to 11,600 and last week’s lows.

S&P 500 resumes its move higher

While the S&P 500 was unable to push on through 3160, after rallying sharply from its June low, it did manage to avoid dropping below 3080.

Although it will begin the week below 3060, the rally has seen in move back into the 3070-3160 range that held last week. A break above 3160 clears the way to the June peak at 3240, while below 3060 the price could move further towards 2940.

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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