FTSE 100 rallies, while DAX and S&P 500 remain muted
The FTSE 100 is moving off the lows of the week, while overnight gains in the DAX are wavering, and the S&P 500 readies itself to break higher.
FTSE 100 pushes back to 7200
The FTSE 100 has continued to hold above 7130, the lows of the week, despite the drop in the latter half of the session.
GBP strength continues to be a significant factor inhibiting any rebound, while any substantial recovery must hold above the 50-hour simple moving average (SMA) at 7168 and then move above 7200, which stifled the bounce earlier in the week. A move back above this level would leave the way clear for a steady move back in the direction of 7440. A close below 7130 brings 7100 and 7000 into view.
DAX struggles in early trading
While the DAX struggled yesterday, the pullback created a higher low around 13,050. That rebound is under threat this morning, as overnight gains stall around the 50-hour SMA (13,121).
If this moves back below short-term trendline support from the Tuesday low, and then below 13,050, then a more bearish view may develop. Further gains above 13,130 would target the mid-week highs around 13,175, and then on to 13,300 if bullish momentum continues.
S&P 500 looks poised to break higher
The recovery from the drop in the S&P 500 earlier in the week continues, bolstered by more positive trade headlines.
A solid move above 3,125 continues to elude the index, which has failed to push through this level all week, while rising trendline support comes into play around 3,115. Above 3,125, the price heads towards 3,160 and the previous records. A break of rising trendline support could signal a revival of bearish momentum, heading back to the 3070 low of Tuesday’s session.
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.
