FTSE 100, DAX 40 and S&P 500 drop on Israel retaliatory strike on Iran

​​Outlook on FTSE 100, DAX 40 and S&P 500 as investors fret about escalating tensions in the Middle East.

​While no rise above Thursday’s high at 7,899 is seen, the FTSE 100 remains under pressure and may revisit Tuesday’s low at 7,794.

​The index is trying to heave itself above the 55-day simple moving average at 17,715 which may act as resistance with the 17,711 low seen on Tuesday. Further resistance sits at last Friday’s 17,831 low. For the bulls to be in control again in the short term, a bullish reversal and rise above Tuesday’s high at 17,903 needs to ensue.

​The index is trying to remain above this low but will now have the psychological 5,000 mark to contend with which should act as resistance. Further up the mid-February high at 5,049 may also act as resistance.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.

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