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Levels to watch: FTSE, DAX and S&P 500

Indices are broadly lower this morning, as the week gets off to a slow start.

CFDs are a leveraged product and can result in losses that exceed deposits. Trading CFDs may not be suitable for everyone, so please ensure you fully understand the risks and take care to manage your exposure.
The City of London
Source: Bloomberg

FTSE 100 needs to push above 7550

The FTSE rallied sharply on Friday, but we now need to see if it can push on above that session’s highs at 7550. Above here the next stop would be 7600 and the all-time highs.

A drop back to 7400 would raise the risk of a test of the 50-day simple moving average (SMA) at 7377, even though we saw that on Thursday night/Friday morning and buyers came in to defend it. Below 7370, the index could test 7260 then 7090.

DAX getting near all-time highs

The DAX is fewer than 100 points from its all-time high, so any dip still looks to be a chance to buy, at least from a short-term perspective.

Over the past six weeks the 12,500 area has provided support, so we would need to see a push below here, and ideally down below 12,400, to firmly indicate that the sellers are in charge. 

S&P 500 without much movement

June has so far seen little movement for the S&P 500, with the small drift lower remaining just that for now. There is no sign of this decline turning into a bigger rout yet.

Support levels to watch remain at 2401 and 2387, while it is only a short hop to 2440/2450 and the all-time highs. 

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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