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Technical Outlook: S&P 500, DAX

Technical Outlook: S&P 500, DAX

Justin McQueen, Analyst

Equity Analysis and News

  • S&P 500 | Topside Resistance Holds for Now
  • DAX | Eyes on Further Upside Ahead of 12000
European index

S&P 500 | Topside Resistance Holds for Now

A relatively uninspiring week for the S&P 500, holding a tight range. Topside resistance at 2800 continues to hold for now as the S&P 500 fails to consolidate above, which in turn suggests that the move to the upside is somewhat exhausted. Near-term support for the index is situated at 2730-40.

S&P 500 Price Chart: Daily Time Frame (Jun 2018 – Mar 2019)

US500 cash

How to Trade S&P 500 Index: Strategies, Tips & Trading Hours

DAX | Eyes on Further Upside Ahead of 12000

Strong gains for the DAX across the week, rising over 1.2% having made a break through the 38.2% Fibonacci retracement and descending trendline. Focus now turn towards the 50% Fibo, in which a closing break could see the index move towards the psychological 12000 level.

Looking for a fundamental perspective on equity? Check out the Weekly Equity Fundamental Forecast.

DAX Price Chart: Daily Time Frame (Nov 2017 – Mar 2019)

Germany 30 cash

How to Trade Dax 30: Trading Strategies and Tips

RESOURCES FOR FOREX & CFD TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

Other Weekly Technical Forecast:

Australian Dollar Forecast – GBPAUD Eyes Brexit Referendum Levels. AUDUSD, AUDJPY May Breakout

Oil Forecast– Trump's Tweet Sees Bulls Rush In

British Pound Forecast – GBP Slipping But Still Positive

US Dollar Forecast – Dollar Forces EURUSD Break of Least Resistance, Other Crosses Loaded

Euro Forecast – Reversal, Price Pattern Point to Selling

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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