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

The week looks to be ending with a whimper, with indices unable to establish a clear direction. 

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.
Data trader
Source: Bloomberg

FTSE 100 still has a chance to bounce

The FTSE has returned to the 7400 zone that has sustained bounces over the past month. A daily close below 7385 is a bearish development that could open the way to 7260 or even 7090.

There has been little sign of upward momentum over the past few days, with a steady drift lower. Nonetheless, if the 7377 level holds then a bounce is still possible.

DAX finds support

Having touched 12,950 earlier this week, the pullback has found support around 12,700. The possibility of a bounce is still there for the DAX, as long as 12,700 holds.

Since mid-May we have seen a progression of higher lows, so we need to see a push below 12,500 to really negate the optimistic outlook.

S&P 500 could return to the highs

An area of support this week was marked at 2430, so there is still the possibility that the S&P 500 will return to the highs at 2454.

It will need a firm close below 2420 to start to reverse the still-bullish outlook, and even then, a move to 2400 and the previous all-time high could be all that the bears get. 

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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.