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

The FTSE continues to struggle below 6850, while the DAX is looking to push lower for now.

Traders on a trading floor
Source: Bloomberg

FTSE 100 continues to stall

Yesterday’s bounce stalled at 6840, and an early move higher this morning has faltered at this level too.

Thursday’s trading saw the rising hourly trendline tested again, so this is still the area to watch today and into next week, with a move below 6800 needed to indicate buying pressure has run out.

The area from 6840 to 6860 has held back rallies since 11 November, so this is where the buyers need to step up. 

FTSE 100 price chart

DAX steady roll over continues

The slow rolling over in this index goes on. Having fallen back from 10,800, it is now heading towards the 10,600 area where sell-offs have run out of steam.

A close below 10,600 could open the way to 10,200. As before, the 10,800 level needs to be broken to maintain forward momentum.

Germany 30 price chart

S&P 500 buying possible

US investors return for a half day, so we will probably see even lower volumes than have been the case through the rest of the week.

It is possible that we will see some more buying that keeps us above 2200 and potentially above 2210.

Any move downwards would need to break 2195, key support this week and the previous big high seen in August. 

S&P 500 price chart

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