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. 

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.

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.

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. 

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.