Indices bolstered by trade talks

Indices have begun the year on the front foot, as investors look towards fresh progress in US-China talks.

FTSE rallies as 2020 gets underway

The FTSE 100 has opened the year with a gain, continuing to rally off the 31 December low.

Above 7700 the index heads towards 7730, the late July high, and then on to 7905 and the record high of May 2018. A deeper retracement heads towards 7440 and then down to rising trendline support from the December 2018 low.

S&P 500 eyes up fresh record for the new year

Last year (2019) was a year of steady gains for the S&P 500, and 2020 begins with small gains thanks to more trade talk news.

The index targets the 3251 record high from late December, while dips towards the 50-day simple moving average (SMA) at 3128 and then rising trendline support from the December 2018 low may find buyers.

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