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

The FTSE 100 is pushing on from yesterday’s breakout, and while the S&P 500 is at new records, the DAX is still stuck in a trading range.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2017-12-13T09:42:14+0000

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FTSE 100 registers new four-week highs

Yesterday saw the FTSE 100 push through the 7473 level, with the index breaking out to a one-month high.

There seems to be plenty of follow-through this morning, as the index moves back above 7500. Upside targets now look like 7533, 7553, and then 7589-7600. Support is possible at 7473, and then at 7450.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX drifts sideways

While the FTSE 100 breaks higher and US markets clock up their routine all-time highs, the DAX is lagging. The trading range of the past month still prevails.

The index at present, is still stuck below the 13,200 area that has marked the limit of upward progress for weeks now. A close above 13,211, and ideally on through 13,242, is needed to clear the way for another run to the early November highs at 13,533. Meanwhile, support comes into view at 13,095, 12,954, and then 12,844.

DAX chart

DAX chart

DAX chart

S&P 500 leaps higher once again

A push to new highs yesterday for the S&P 500 acts as another reminder, as if one were needed, that the rally here is not to be trifled with.

Above 2670 will put the index in new uncharted territory. Meanwhile, 2620 is the first place to look for support, and then on to 2604.

US 500 chart

US 500 chart

US 500 chart

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