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, DAX and S&P 500

Markets are holding on to gains this morning, after the bulls took charge last week.

Trader in the New York Stock Exchange
Source: Bloomberg

FTSE 100 continues to gain

Small gains this morning come after a very strong finish to last week. The price looks somewhat overextended to the upside, with a pullback likely to take the edge off the bullish momentum seen since Wednesday. As long as the price holds 7200, we should expect further upside.

The first areas to look for on the upside are 7314 and 7360, with dips welcomed as further buying opportunities.

DAX recovery set to continue

European markets have shown strength right out of the gate this morning, having pulled themselves up by the bootstraps last week and staged an impressive recovery.

The next resistance areas to watch are 11,770 and then 11,872, with 11,650 providing notable support at the end of last week. So long as this holds we can expect further upside.

S&P 500 looks set for a pullback

Last week saw record highs again for US markets, having formed a firm base of support around 2280. The price has moved away from the three key moving averages, so we may see a pullback materialise here, which is to be welcomed. Fresh buying could show at 2300.

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