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

Indices have had a brief recovery but the sellers are in charge once more.

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FTSE 100 begins to fall once more

After holding the line yesterday, the FTSE 100 is slipping lower once again.

It has created a new lower high on the intraday charts, with the low from Monday at 7489 now in sight. Below this, 7340 comes into view. A push above 7590 would suggest a move back towards resistance at 7700, but overall price action so far suggests that the sellers remain in charge.

DAX recovery short-lived

Yesterday’s session saw the DAX finish off the lows, but those efforts have been undone early today.

The steep falls confirm the bearish price action from earlier in the week, and now the next big area of support seems to be 11,704, the lows from March. Any recovery above 12,400 would be taken as a bullish development.

S&P 500 takes a turn lower

The downward move has resumed this morning for the S&P 500, with the price heading back towards the lows of the week at 2698.

Below this, 2676 comes into play, and then on down to rising long-term support around 2650.

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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.