Levels to watch: FTSE 100, DAX and S&P 500

Indices ended the week well, and have started the new week on the front foot too. 

FTSE 100 enjoys a good run

The index has steadily climbed for the past week, but the 7300 and 7400 levels are still the ones to watch for the FTSE 100.

In the near term, 7326 and 7340 are the key resistance areas. Buying has been solid during recent sell-offs, but with overbought readings on the one- and four-hourly charts, some immediate indecision is to be expected. Still, the short-term trend is up, with 7189 being the most recent higher low.

DAX enjoying strong momentum

A strong trend is in evidence here too, with higher lows and higher highs dominating DAX over the past week.

This solid march higher now targets 12,551, 12,618 and then 12,663. It would take a move below 12,200 to negate the bullish outlook here, although some caution will likely prevail unless and until we break 12,663.

S&P 500 clears recent highs

The S&P 500 has cleared the 2789 high from the end of February, putting it within striking distance of the previous high at 2877. 

A steady rising trend from the lows of last week would see support come into play around 2740, with 2730 below this. 

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.

Find articles by writer

All trading involves risk and losses can exceed deposits. Trading CFDs may not be suitable for everyone so please ensure that you fully understand the risks involved. All trading involves risk and losses can exceed deposits.