Levels to watch: FTSE 100, DAX and S&P 500
Indices in positive frame of mind ahead of non-farm payrolls.
FTSE 100 still struggling at 6760
The price for the FTSE 100 has rallied to the 6760 area, so it is now up to the buyers to get through this zone of resistance to open the way to further upside. The next areas to watch on the upside are 6840 and then 6920.
However, a failure to push higher brings the 6680 support level into play, and from there 6640, 6600 and 6520 are potential areas of support.
DAX lifted off the lows
After slumping 245 points yesterday, the DAX bounced from oversold conditions, but already the rally is fading.
An attempt early on this morning to push above 10,550 has been met with selling. This would be another lower high, following on from the one on Wednesday, and would suggest a move back to 10,400. If the index does rally through 10,550, then 10,650 and 10,700 come into play.
S&P 500 rallies, but for how long?
Here too we have seen lower highs on the intraday charts, with the S&P 500 unable to hold above 2490 yesterday, and a bounce into this morning starting to run out of steam at 2472.
If this marks another possible selling opportunity, we look for a move back to, and then below, the low late yesterday at 2440. The next areas of potential support are 2420 and then 2397.
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.
See an opportunity to trade?
Go long or short on more than 17,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets