CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

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

Indices shot higher yesterday, and are looking for more gains today.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-04-06T09:15:00+0100

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FTSE 100 continues rally

The FTSE 100 has rallied sharply over the past two weeks, and now 7256, 7300 and 7400 are in sight as possible areas of resistance.

So far, dips have been bought this week, so pullbacks that remain above 7100 may continue to find buyers. A move below 7060 would signify a fresh bearish turn.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX nears February highs

The DAX is approaching the downtrend line from the February highs. A break above 12,300 would be a positive sign, and being 12,477 into view as a target.

A turn lower below 12,300 would signify another move lower, but so far since February, 11,700 has acted as a very strong area of support, so bears will need to break this to really suggest a bigger move lower is underway.

DAX chart

DAX chart

DAX chart

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S&P 500 continues moving up

While futures took a knock overnight as President Donald Trump got worked up about tariffs again, the S&P 500 has steadily recovered and maintained its upward move.

Further gains will target the 2680 area that held back progress over the past two weeks. Above this, 2730 comes into play. A drop back below 2620 would suggest another test of 2600 and 2550.

US 500 chart

US 500 chart

US 500 chart

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