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 struggles while DAX and S&P 500 move higher

While the FTSE 100 is still unable to clear recent resistance, the DAX and S&P 500 are both looking poised for more gains.

FTSE 100 still stuck below resistance

Yet again, the FTSE 100 has failed to clear 6300, dropping back from this zone of resistance after reaching it earlier on in Tuesday’s session.

For now, however, the price has found support around 6150, as it did last Friday, so a fresh rally may yet see 6300 challenged again. Below 6150, the price heads towards 6080 and then 5950. A more bullish view requires a daily close above 6300.

DAX rallies from 12,500

The DAX appears to be finding support again around 12,500, as it did last Friday.

Having recorded a new higher high at the beginning of the week, the pullback from 12,800 to 12,500 may provide a fresh buying opportunity. Further gains target 12,800 and then on to 12,954. A more bearish view requires a much deeper retracement, moving back below 12,300 and then the establishment of a lower high on the hourly chart.

S&P 500 carves out new higher low

The S&P 500 seems to be establishing a higher low at 3140, as it eases back from the peak of Tuesday’s session at 3190.

Further gains target this recent high, and then on towards 3240. Alternatively, a reversal below 3120 could signal some more near-term weakness, potentially giving back more of the rally from the late-June lows at 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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