Indices look for further gains after strong bounce last week
Indices enjoyed a good few sessions last week, putting themselves back on an upward path.
FTSE 100
It was a great week for the FTSE 100, which has moved back to levels last seen in February 2020. We look for additional upside from here, with the caveat of some form of consolidation after the 200 point plus gain of the past two weeks.
The 7220 area has provided resistance over the summer, so may act as a stumbling block in the short-term, but overall further gains towards 7300 and then 7600 seem likely.
DAX
The bounce of the past week has carried the index back to the declining 50-day and 100-day simple moving averages (SMAs) of 15,600 and 15,667 respectively.
Sellers will hope a lower high occurs here and a move back to 15,000 results, while buyers will be watching for additional gains that can help push the index on towards 15,680 and trendline resistance from the August peak, and then break above that.
S&P 500
The price has returned to the 4470 area that marked the limit of gains in September. A move above here targets the September record highs, and potentially higher, given the revived bullish trend.
Sellers will hope for a reversal here, but with seasonality and earnings both providing a positive tailwind, that may be difficult to achieve.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
