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

Further gains for the DAX have helped create a more bullish outlook for the index.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-01-22T09:56:50+0000

DAX

Source: Bloomberg

FTSE 100 recovers

Last week saw the FTSE 100 drop back from record highs, but the buyers mounted a defence of the 7700 area.

If this holds then we look towards 7800 as the next target, while further declines below 7700, and then below 7684, would suggest a bigger move towards 7600 is in play.

FTSE 100 price chart

FTSE 100 price chart

FTSE 100 price chart

DAX aims for fresh highs

A late surge on Friday carried the DAX to new highs for the month. Further upside would target 13,533, and then on into new record highs.

Support is possible around 13,400, 13,211 and then 13,095. The creation of a new high within the context of the rally from the January lows remains a bullish sign.

DAX price chart

DAX price chart

DAX price chart

S&P 500 unmoved by shutdown

Much of the focus today will be on the government shutdown, but the S&P 500 does not seem too perturbed.

The four-hour chart posted new higher lows and a higher high last week, and it would need a move below 2768 to put a dent in the smooth move higher.

S&P 500 price chart

S&P 500 price chart

S&P 500 price chart

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