Home Forex ​​​DAX 40, S&P 500 Trade Close to Record Highs while FTSE 100 nears 8,000 Mark

​​​DAX 40, S&P 500 Trade Close to Record Highs while FTSE 100 nears 8,000 Mark

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FTSE 100, DAX 40, S&P 500 Prices and Analysis

​​​FTSE 100 trades at one-year highs

​The FTSE 100’s rally to its 7,962 one-year high on the back of the Bank of England’s (BoE) dovish stance amid a falling British pound last week is expected to continue with the psychological 8,000 mark representing the next upside target. ​A speech by the MPC’s Katherine Mann, a known hawk, at 2:15pm might have some bearing on the FTSE 100 during the day.

​Minor support can be spotted at the early May high at 7,897. Far below it lies more significant support between the December-to-mid-March highs at 7,786 to 7,747.

FTSE 100 Daily Price Chart

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Change in Longs Shorts OI
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DAX 40 consolidates below last week’s record high

​The DAX 40 is short-term consolidating below last week’s new 18,258 record high, a rise above which would engage the minor psychological 18,500 mark.

​Support can be seen at Wednesday’s 18,185 high and Friday’s 18,133 low ahead of the more important February-to-March accelerated uptrend line at 18,052.

DAX 40 Daily Price Chart

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S&P 500 consolidates below last week’s record high

​The S&P 500 is consolidating below last week’s record high, made at 5,261, a rise above which would put the 5,300 mark on the cards. A speech by FOMC member Bostic at 12:25 pm might provide the impetus for such a move higher or stall the advance. ​Minor support below the 5,200 mark can be spotted at the 5,165 early March high.

​Further down the October to March uptrend line at 5,165 continues to offer support.

S&P 500 Daily Price Chart



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