Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Levels to watch: FTSE 100, DAX and S&P 500

The FTSE 100 and the S&P 500 have resumed their march higher, while Europe continues to drift sideways. 

FTSE 100 looks to more new highs

There seems little stopping the FTSE 100, as it pushes on to fresh highs.

From a daily chart perspective, we would see weakness as a fresh buying opportunity, with 7705 and then 7600 as possible areas of support. Already, dips towards Friday’s lows around 7760 are finding buyers. 

DAX fights to hold support

While the DAX has not been able to make much upward progress, it has at least managed to hold the 13,211 area.

So long as this remains the case, the chance of a move higher to challenge the 13,400 area remains high. Above 13,400, the 13,533 zone comes into play, while below 13,211, 13,095, 12,954, and 12,844 are possible areas of support.

S&P 500 resumes its rally

The S&P 500 gapped higher overnight, and has spent the morning filling that gap.

However, the broad trend is intact, with the dip on Wednesday finding buyers. Pullbacks towards the 50-hour (2771) or 100-hour simple moving average (SMA) at 2760 are likely to find buyers.

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.

Find articles by writer