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

The bounce in European indices has taken a knock, while the S&P 500 remains stuck in a range. 

Source: Bloomberg

FTSE 100 looks for support after trendline break

The FTSE 100 finished the day below trendline support, making a notable departure from the price action of recent weeks.

Possible near-term areas of support come in at 7729 and then 7685, followed by 7589.

DAX bounces from 12,800

This DAX too has lost the rising trendline that had been in place since the end of March.

However, it has bounced from 12,800, and a move above 12,954 would help restore a more bullish outlook. Further declines target 12,742 and then 12,663.

S&P 500 continues sideways movement

The consolidation goes on here for S&P 500, with dips down towards 2700 finding buyers and rallies up to 2740 hitting selling pressure.

A break high targets 2790, and a drop would likely head towards 2680 and then 2647.

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 articles by analysts