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

After several strong days, indices are encountering key resistance levels.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-04-11T09:47:27+0100

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FTSE 100 regaining despite resistance

The FTSE 100’s recovery continues, although the 7256 level continues to act as resistance.

Above here, the 7300-7400 zone of resistance comes into play. Given the relentless nature of the move higher over the past two weeks, some softening is to be expected, although a continued hold above 7100 should mean that the outlook still tends towards the bullish end of the spectrum.

FTSE 100 chart

FTSE 100 chart

FTSE 100 chart

DAX stuck below 12,400

The DAX has shrugged off overnight weakness so far, but it remains stalled below 12,400.

A break above here puts it in the no-man’s land of resistance levels running from 12,400, through 12,477, 12,552, 12,663 and then 12,742. Dips have been bought so far this week, so a move below 12,051 is needed to cancel out the still bullish outlook.

DAX chart

DAX chart

DAX chart

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S&P 500 struggles at top end of March range

The S&P 500 has stalled below 2650, towards the top end of the range that has held since the latter half of March.

We need to see a firm push above 2670 to suggest a test of the downtrend line from the January highs is in progress. Support levels to watch for come in at 2628, 2596 and 2531.

US 500 chart

US 500 chart

US 500 chart

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