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

It was a tough day for indices yesterday, but the FTSE 100 is back at 7200 and the S&P 500 is picking up momentum again.

FTSE 100 reclaims 7200

The FTSE 100 has pushed through the highs of October 2018, providing fresh confirmation of bullish momentum.

A short-term pullback overnight has seen the 7190 area defended, and further gains target 7233 and then 7299, the 200-day simple moving average (SMA). The near-term sequence of higher lows would be broken with a move below 7190, but the overall bullish trend persists unless we see a move below 7064.

DAX tiptoes higher after reversal

Hopes of a continued rebound yesterday were rudely defeated, as DAX dropped back from 11,250, and further losses have been seen this morning.

The 10,914 and then 10,823 are potential support zones. A rebound above 11,250 would provide a more bullish view, bringing 11,400 back into play.

S&P 500 finds buyers again

While the S&P 500 has fallen back over the past two days, it remains in an uptrend.

A rebound from here would create a higher low and put the index on course to challenge 2760. From here 2800 comes into view. A close below 2720 would be another bearish development, but it requires a close below 2700 to suggest that the rally has run its course.

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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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