FTSE 100, DAX and S&P 500 edge higher ahead of G20 meeting
Indices posted a small recovery yesterday, but caution remains ahead of a US-China meeting at the G20 summit.
FTSE 100 stuck in tight range
The FTSE 100 has held above 7380 all week, providing a base from which to rally. However, gains above 7430 have proven impossible to sustain.
This 50-point range will need to be broken to establish a firm directional move. Above 7470 the price heads towards 7530, while below 7380 the 7300 area becomes possible support.
DAX finds support at 12,170
This week saw the DAX bottom out at 12,170, and it has since pushed higher. Now we wait to see if the price can break above 12,340, opening the way to 12,440.
A move back below 12,270 would reinforce a more bearish view, but sellers will need to break 12,170 to suggest that further downside is likely.
S&P 500 rises after strong Thursday session
Losses this week were contained around 2912 for the S&P 500, with the price then moving higher.
Above 2930, the index heads back to 2960 and the mid-June highs. Below 2909, the next level to watch for possible support will be 2870.
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.
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. Please see important Research Disclaimer.
Please also note that 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.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
