CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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

Markets have begun the week on the front foot, as US markets continue to record new highs.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-01-29T09:22:36+0000

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FTSE 100 eyes near-term trend resistance

The FTSE 100 has fallen back from the highs of Friday, but is clawing back lost ground.

The short-term downtrend from the record highs remains intact, and a break of this would require a move above 7700. Above here, 7750 and then 7800 would come into play. Potential support comes in at 7600, followed by 7550 and then 7450.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX aims to push onwards

Given that it recorded a new record high last week, the DAX is in strong form.

However, 13,427 has become resistance once more, with 13,211 and then 13,095 as possible support. A move below 13,200 would create a new lower low in the short term, but in reality the uptrend only comes under threat with a move below 12,700.

DAX chart

DAX chart

DAX chart

S&P 500 resumes normal service

Having gapped higher, the S&P 500 is now moving back towards 2850 and potential support.

The 50 and 100-hour simple moving averages (SMAs) of 2850 and 2844 respectively, have proven key areas of support so far this month.

US 500 chart

US 500 chart

US 500 chart

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