FTSE 100 halted but DAX and S&P 500 push higher
While the overall recovery in indices continues, the FTSE 100 has found itself stuck below resistance. By contrast, the DAX and S&P 500 look stronger.
FTSE 100 stuck below recent highs
The FTSE 100 has rallied over the previous two sessions; however, it is still unable to break above the 7540 peak that has held twice over the past three weeks.
This zone was a lower high on 29 January, and the price hit the level once again in the first week of February. A close above 7540 is needed to open the way to new upside, but bulls can take comfort from the fact that the pattern of higher lows remains intact. A move back below 7420 would begin to create a more negative short-term view.
DAX clears resistance
The DAX has finally succeeded in breaking above 13,600, putting it back in record territory.
Pullbacks towards 13,430 may find support, while below this the price heads towards 13,325 and 13,208.
S&P 500 pushes on to new records
The S&P 500 created a new higher high yesterday as the rebound continued, confirming the strength of the trend.
Further gains take the price deeper into new highs territory. The bullish view remains in place unless the price goes back below the 50-day simple moving average (SMA) at 3247.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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.
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.
