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 still in uptrends

Despite a weak session in Asia, European equities are moving modestly higher, with the overall outlook still positive for indices.

FTSE 100’s rally continues

A new 11-month high for the FTSE 100 last week confirms that the uptrend from December is still in place. The index dropped back over the past two sessions, having rallied over 3% in the preceding four sessions.

However, the short-term uptrend is also still intact, with rising trendline support from the 31 June low coming into play around 7500. A move back above 7570 targets 7620 and last week’s peak.

DAX bounces from trendline support

The DAX has rallied off trendline support in early trading, having carved out a new higher high last week. Further gains target 12,666 and then 12,750 and 12,855.

A move below 12,400 might suggest some more near-term weakness, targeting 12,400 and then 12,165.

S&P 500 still close to previous record

A new record high last week provides further confirmation of the strength of the uptrend for the S&P 500.

Pullbacks could find support at 2960, 2940 or at the 50-day simple moving average (SMA) currently at 2886.

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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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