CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

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

The week has seen the steady recovery continue, and it looks like there is more to come for indices.

FTSE 100 keeps pushing higher

Yesterday’s retreat towards 6850 provided a new higher low for buyers to enter, the FTSE 100 then duly pushed to a new higher high in the current move higher.

Having moved above the 50-day simple moving average (SMA) of 6905, the index is now looking to test trendline resistance from the August highs, which would suggest resistance around 7050-7060. The longer-term picture remains bearish unless this line is broken. However, for the time being pullbacks look to be buying opportunities.

DAX targets 11,000

Early weakness yesterday resulted in a higher low and then a higher high, as the DAX pushes on towards 11,000.

The 50-day SMA at 11,038 is the next target, while the support zone around 11,050 could also provide some resistance. The bullish view prevails in the short term unless we see a move below 10,800.

S&P 500 eyes up 2600

The steady move higher continues here, with the S&P 500 moving towards 2600 and continuing its recovery.

The next area of resistance to watch would be the 2624-2632 zone, marked by the lows of October and November, and the 50-day SMA. Immediate support is found around 2550.

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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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