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

Optimism has returned across indices, after dip buyers stepped up to the plate yesterday.

Trader
Source: Bloomberg

Buyers keep the FTSE 100 from more downside

The FTSE 100 found plenty of buyers down towards 7230 yesterday, mirroring the price action from the end of last week.

If this holds as support then near-term upside targets are found around 7340 and then on to 7490. A break below 7230 is needed to suggest the sellers are back in charge, bringing the 7120 area into play again.

DAX buyers come to the rescue

Things were looking quite negative for the DAX yesterday when the price dived below 11,900, but as we saw on Friday there was plenty of buying appetite at these levels.

A bounce towards 12,100 is now a possibility, and above here 12,400 comes into view.

S&P 500 back above January high

It looks like a recovery is firmly underway here, as the S&P 500 moves back above the January high and sets itself on a path to the August all-time highs around 2916.

A bullish view now prevails unless and until we see a close below 2865.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Find articles by analysts