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

While markets are struggling in early trading, the overall move higher from last week remains intact.

FTSE 100 finds the strength to rally

FTSE 100 had a good week, rallying strongly off the lows and finishing the week on a strong note.

The price has enjoyed a sharp bounce, and further gains above 7370 head towards 7420, 7460 and then on to 7525. A move back below 7300 begins to suggest that a fresh downward move is on the cards.

FTSE 100 chart Source: ProRealTime

FTSE 100 chart Source: ProRealTime

DAX looks to build on strong week

A weaker euro and renewed risk appetite allowed DAX to shoot higher, breezing through recent lower highs seen over the past week.

A rally back above 12,300 would further reinforce the bullish view and leave the index on course to target the 12,450 highs from the beginning of the month.

DAX chart Source: ProRealTime

DAX chart Source: ProRealTime

S&P 500 rally falters

While last week did see a rally off the lows, S&P 500 was unable to hold the 2880/2890 highs from the latter part of the week.

A drop to 2850 found buyers, creating a fresh higher low, so now the index needs to push on back above 2890 to create a new higher high. A move below 2850 would impair the bullish view and bring 2810 and 2800 into view as possible support.

S&P 500 chart Source: ProRealTme

S&P 500 chart Source: ProRealTme


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