Levels to watch: FTSE 100, DAX and S&P 500
Indices suffered a reverse yesterday, but there are signs of a recovery.
FTSE 100 drops back from key resistance
The FTSE 100 fell back from its recent highs, faltering around the 7200 zone that marked resistance back in October and November.
Further declines would likely find support around 7000, where the index peaked in mid-January before breaking higher this week. A rebound to 7200 then needs to close above this level to create a higher high.
DAX returns to key support
The DAX has fallen back to support around 11,000, dropping below rising trendline support from the December low.
However, if this area holds, then a rebound towards 11,250 is possible. A close back below the 50-day simple moving average (SMA) of 10,933 would boost the prospect that a deeper retracement is at hand.
S&P 500 tries to recover from losses
The rally suffered a check yesterday as the S&P 500 dropped back towards 2685.
So far, this area has continued to hold, and a rebound would target 2740. Further declines bring the 2620 support zone into play.
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.
