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 continue to weaken this morning, hit by trade war concerns and a miss in eurozone PMIs.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-05-23T09:29:29+0100

Video poster image

FTSE 100 eases off record high

The steady uptrend of the past few weeks for the FTSE 100 posted a new record high yesterday, with a modest pullback in progress so far this morning.

Dips towards 7750 remain potential buying opportunities, with a break below this level pointing towards a move to 7589.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX takes a knock

Weakness in German purchasing managers indexes (PMIs) has prompted a drop here for DAX in the early part of the session, testing the rising trendline from 4 April.

Below 13,010, 12,954 comes into view, while below this 12,742 and 12,663 are areas of possible support. A turn higher targets the 13,200 area and then onwards towards 13,600.

DAX chart

DAX chart

DAX chart

S&P 500 closes Sunday gap

The S&P 500 has closed the gap from Sunday night, and is heading towards the 2700 zone of support that held last week.

Below this, 2682 and 2647 come into play. A turn higher targets 2740 and then 2790.

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.