FTSE 100, DAX and S&P 500 mixed in early trading
Indices have lost ground as concerns about new viral outbreaks rise and some Fed members hint at easing off monthly bond purchases.
FTSE 100 struggles below 6000
The FTSE 100 does look at risk of a broader decline as it continues to drop back from 6000.
An overnight bounce for futures has been reversed, with the price heading back below 5900 and potentially forming a near-term top. Further declines below 5870 head towards 5675, then 5630 and 5530. A recovery above 6000 is required to sustain forward momentum.
DAX still under pressure
Over the past three days the DAX has steadily lost ground, recording a lower high yesterday and then falling below rising trendline support from the 4 May low.
A bounce overnight carried the price back to the trendline, but it has already begun to drop, targeting 10,490 and 10,400 in the near term. Short-term trendline resistance from the 11 May high comes into play around 10,750.
S&P 500 goes into reverse
There was a sharp reversal yesterday, although for now the S&P 500 is holding rising trendline support from the 21 April low.
A break below 2830 would clear that line of support, and then bring 2780 and 2730 into view. Alternatively, if the price continues to hold 2840 then a rebound towards 2940 would help to revive the bullish sentiment.
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