​​​Bounce in FTSE 100, DAX 40 and S&P 500 May Soon Lose Upside Momentum

This week’s recovery rally in FTSE 100, DAX 40 and S&P 500 may soon lose upside momentum as indices approach technical resistance

Gold IG Client Sentiment: Our data shows traders are now net-short Gold for the first time since Jul 19, 2024 when Gold traded near 2,400.62.Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....​The FTSE 100 is on track for its seventh straight day of gains but is expected to stall within its 8,278-to-8,314 late June to mid-July highs and thus resistance area.

​The DAX 40’s recovery from last week's 17,021 low is losing upside momentum below its 17,950 mid-June low. This level, together with the 18,023 early July low, is expected to act as resistance. ​The S&P 500 is getting ever closer to its 55-day simple moving average at 5,451 which, together with the July-to-August downtrend line at 5,485, is likely to act as resistance this week.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk.

We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.

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