Levels to watch: FTSE 100, DAX and S&P 500
While the FTSE 100 remains close to recent highs, the same cannot be said of the DAX and S&P 500.
FTSE 100 back to recent highs
The FTSE 100 has pushed back to 7360, which has held back progress over the past four sessions.
Above this level, 7410 is a key level, being support in late April and resistance in early May. Potential support is found at the Tuesday low around 7320, while further declines would target 7270.
DAX in retreat from recent highs
This DAX has been unable to maintain the bullishness seen in the FTSE 100 – Tuesday’s high at 12,180 was a lower high, as the decline from last week’s peak at 12,300 continues.
Lower highs at 12,250 and 12,180 are now in place, so a push above at least the latter of these is needed to reverse the negative short-term view. Further declines head to 12,000, and then the 11,840 area that marked the low early last week.
S&P 500 stuck below lower high
The buyers have failed to create a new higher high for the S&P 500, although the sequence of higher lows is still intact for the time being.
Key areas of resistance in the near term include yesterday’s high at 2870, and then on to the area around 2890 which halted progress at the end of last week. Possible trendline support from the May low comes into play around 2845. A close above 2870 would ignite a move higher.
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.
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 30
- The only provider to offer 24-hour pricing
Live prices on most popular markets
You might be interested in…
Find out what charges your trades could incur with our transparent fee structure.
Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.
Stay on top of upcoming market-moving events with our customisable economic calendar.