FTSE 100 falters while DAX and S&P 500 hold support

The FTSE 100 has been hit hard, falling sharply after encountering trendline resistance. Meanwhile, the DAX and S&P 500 are holding support.

FTSE 100 resumes downward move

The FTSE 100 ran into trendline resistance yesterday and as before, the price sold off - with the move lower intensifying. Further declines test the 7350 low from Tuesday, and below this trendline support at around 7300 comes into play, and then the January low at 7230.

On the hourly chart, the price has dropped sharply, with possible trendline resistance from yesterday’s peak requiring a break above 7430 to provide a more bullish view.

DAX drops back to 13,600

After holding close to 13,800 for a week, the DAX has dropped, and is now testing the 13,600 support zone.

Further losses head towards possible support at 13,460, and then the 50-day simple moving average (SMA), currently 13,410. Other targets to the downside include 13,200 and then 12,954. If 13,600 holds then another rebound to 13,800 is possible.

S&P 500 fights to hold 3350

Thursday witnessed a swift dip towards 3350 for the S&P 500, and while a bounce did take place, the downward move has resumed.

A move below 3340 would clear the area of support which held earlier in the month, bringing 3320 into view, and then the 50-day SMA (currently 3280). A rally back above 3370 would signal a renewed drive higher.

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

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.