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

European markets held their ground yesterday, with a recovery for the FTSE 100 and DAX off their early lows.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2017-11-24T09:13:07+0000

DAX

Source: Bloomberg

FTSE 100 steady above 7400

Having seen the FTSE 100 knocked back sharply on Wednesday, Thursday saw the bulls step in to restore the uptrend, creating a new higher low.

An early turn lower from 7420 indicates that this is the first level to break for further upward progress. A close below 7360 is needed to signal that a bigger retracement to 7294 is on the way.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX bounces back above 13,000

DAX reclaimed 13,000 yesterday, with a higher low being created here as well.

Now, the 13,095 and then 13,200 areas are the ones to watch, as the index looks to push back to all-time highs. The lows of the previous two weeks continue to hold, so this reinforces the view that the path of least resistance is higher.

DAX chart

DAX chart

DAX chart

S&P 500 back at all-time highs

US markets return for a half day, with the S&P 500 having held close to its latest record highs.

Potential support is to be found at 2565, and then 2544 in the near-term.

US 500 chart

US 500 chart

US 500 chart

The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.

Find an article

Find articles by writer

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.

This website is owned and operated by IG Bank S.A. Registered address at 42 Rue du Rhone, 1204 Geneva, authorised and regulated by FINMA.

The information on this site is not directed at residents of the United States and Belgium, or any particular country outside Switzerland and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.