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.

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