Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

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.

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 IG 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.

Find articles by writer