CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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

A mixed performance in Europe so far this morning, although US futures are looking stronger.

Chris Beauchamp ChrisB_IG
Chief Market Analyst, London

Publication date : 2018-03-05T10:07:38+0000

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FTSE 100 struggles to rally

Last week’s sharp falls saw most of the FTSE 100's gains from early February eroded, but for the time being the lows of Friday at 7060 continue to be held.

Below this, 6978 and then 6919 are potential support. Near-term targets on the upside are 7144 and then 7300. While 7160 and then 7200 are the first intraday targets.

FTSE 100 price chart

FTSE 100 price chart

FTSE 100 price chart

DAX unfazed by Italy elections

Italy’s elections provided a buying opportunity for the DAX, as bulls stepped in to pick up the price at the lows. As a result, the 11,692 lows of early February remain intact.

A push above 12,100 would suggest a wider move higher, with 12,551, 12,663 and then 12,742 as upside targets. The next major level of possible support is 11,426.

DAX price chart

DAX price chart

DAX price chart

S&P 500 starts the week on the front foot

US futures have moved smartly off the lows this morning, having fought hard to hold the 2650 level on the S&P 500. Further gains this morning would target 2728 and then 2790.

A renewed drop would head to 2650, and then 2628, 2596 and finally 2530. If the bulls can hold 2650, then a new higher low looks to have been created.

S&P 500 price chart

S&P 500 price chart

S&P 500 price chart

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