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Levels to watch: FTSE 100, DAX and S&P 500

After heavy losses last night, European markets are under pressure.

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.

FTSE 100 looks to move above 7144

The FTSE 100 continued to fall heavily last night, and while it fell below 7144 support, it is fighting to move back above that level this morning.

Further declines would bring 6979 and 6919 into view as possible support. A recovery continues to target 7300 and 7400.

DAX finds support at 12,051

Yesterday’s steep drop for the DAX carried the price back to support at 12,051.

A daily close below this level would find possible support at 11,908 and 11,692. Any rally would head back towards 12,551, 12,663 and then 12,742.

S&P 500 holds above support level

The price for S&P 500 found support around the 100-day simple moving average (SMA) of 2673, and continues to hold above it this morning.

A further drop would head towards 2628, 2596 and then 2530. A bounce will look to target 2728 and then 2789.

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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.