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

Indices ended the week well, and have started the new week on the front foot too.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-03-12T09:22:34+0000

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FTSE 100 enjoys a good run

The index has steadily climbed for the past week, but the 7300 and 7400 levels are still the ones to watch for the FTSE 100.

In the near term, 7326 and 7340 are the key resistance areas. Buying has been solid during recent sell-offs, but with overbought readings on the one- and four-hourly charts, some immediate indecision is to be expected. Still, the short-term trend is up, with 7189 being the most recent higher low.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX enjoying strong momentum

A strong trend is in evidence here too, with higher lows and higher highs dominating DAX over the past week.

This solid march higher now targets 12,551, 12,618 and then 12,663. It would take a move below 12,200 to negate the bullish outlook here, although some caution will likely prevail unless and until we break 12,663.

DAX chart

DAX chart

DAX chart

S&P 500 clears recent highs

The S&P 500 has cleared the 2789 high from the end of February, putting it within striking distance of the previous high at 2877.

A steady rising trend from the lows of last week would see support come into play around 2740, with 2730 below this.

S&P 500 chart

S&P 500 chart

S&P 500 chart

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