FTSE 100, DAX and S&P 500 all rise on trade war hopes
Signs that the US and China may be likely to resume negotiations have pushed indices higher in early trading, although the August highs have yet to be breached.
FTSE 100 beginning to break higher
The FTSE 100 continues to clamber above 7100, continuing its push higher from the lows of the week.
Bulls will be heartened to see the daily moving average convergence divergence (MACD) finally moving higher, with a possible bullish crossover forming today. Further gains for the price head to 7200 and then 7300, where the early-August bounce ran out of steam. A renewed bearish view requires a move below 7000.
DAX looks to test 11,800
The DAX is pushing back towards 11,800, the area which has acted as resistance throughout August.
A break above here would hand the initiative to the bulls and open the way to 12,200 and then 12,600. Failure to push on above 11,800 would signal that the range-bound trading of August was set to continue, with the price contained by 11,400 and 11,800. A move below the former revives a near-term bearish view.
S&P 500 continues its gains for the week
Price action here has seen the S&P 500 recover steadily from its lows on Monday.
Further gains head towards 2940, key resistance twice so far this month. Above 2940, the price will break higher towards 3040. A failure to break 2940 would signal a move back to 2820 and the lows of the week.
IGA, may distribute information/research produced by its respective foreign affiliates 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.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. 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, and 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.
Please see important Research Disclaimer.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.