FTSE 100, DAX and S&P 500 look stronger on vaccine news
Indices have resumed their move higher after yesterday’s mixed session, helped along by positive news on a Covid-19 vaccine.
FTSE 100 eyes new push to 6300
The FTSE 100 has continued to rally, after pausing at 6100 and establishing a higher low, it pushed through 6200, clearing the resistance found at this level over the past week.
The next target is 6300, an area of resistance in late June. A reversal below 6175 would start to suggest the bounce has run its course, and then below 6100, 5900 comes back into view.
DAX climbs higher again
Yesterday saw the DAX rally from 12,550, a higher low in its current uptrend.
The gains are likely to continue unless a reversal below 12,400 develops. Further gains target 12,954 and then on to 13,600.
S&P 500 back to Monday peak
Now the price needs to clear this level to move on towards 3300 and higher. Sellers need to push the price below 3120 to suggest a break lower is in play.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.
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 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets