Levels to watch: FTSE 100, DAX and S&P 500
Yesterday’s weakness has been shrugged off, with a steady recovery so far in indices.
FTSE 100 mixed but holding steady
A choppy week has seen the FTSE 100 make little upward progress, but dips towards 7080 have found buyers.
If we can see a move above 7180, and above trendline resistance around 7160, then 7250 comes back into view. A bearish move requires a drop back below 7080 and then through 7040.
DAX holds higher low
While the DAX was knocked back yesterday, it has managed to hold 11,470 overnight, creating a possible higher low.
A fresh push higher targets 11,640, and then on to 11,683. A decline below 11,470 would bring 11,400 into view.
S&P 500 continues to gain
The S&P 500’s different make-up means it has not been heavily affected by the fall in Boeing stock, and as a result the index has held its ground all week and may now be pushing higher.
A close above 2820 opens the way to the all-time highs around 2940. Below 2780, the price ill-risks a deeper retracement towards 2720 and then 2680.
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.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 30
- The only provider to offer 24-hour pricing
Live prices on most popular markets