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 come under pressure

Indices have staged a reversal, giving back gains from earlier in the week as the market runs out of bullish catalysts.

FTSE 100 stages U-turn

In what should be viewed as a negative development, the FTSE 100 has dropped below the 50-day simple moving average (SMA) at 5881 and has also broken below rising trendline support from the March lows.

This could bring 5500 into view, or down to 5300 as possible support. A reversal back above 5900 is needed to revive the bullish view.

DAX drops back after recent gains

The DAX too has suffered a reverse, although it remains above its 50-day SMA (10,503) for now.

In the event of a deeper sell-off, the price will head towards 10,200, and then down to 9970. If the price holds above 10,200 then a rebound towards 11,00 may take place.

S&P 500 endures a sharp reverse

The S&P 500 has dropped below rising trendline support, reversing the gains from earlier in the week.

Now 2820 and then 2750 come into view as support, with a drop below here targeting 2615. A loss of this latter level would then target 2400. Alternatively, a reversal back above 2900 would revive the flagging uptrend, and suggest another attempt to break 3000.

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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