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

Covid-19 vaccine news yesterday helped to revive the flagging uptrend for S&P 500, with the price rebounding from 3130 again and heading back towards 3220.

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.


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