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

Early trading has been weak, with nerves over trade wars causing some initial losses.

FTSE 100 finds buyers on the dips

The buyers lifted the FTSE 100 off the lows of yesterday, with steady gains continuing to be seen.

The next targets to watch are 7061 and then 7105, but it will require a move above 7120 to suggest that the downtrend from the late February peak is coming to an end. Near-term areas of possible support come in at 6980, 6919, and then 684.

DAX tumbles towards 11,900

The DAX has faltered so far this week, failing to hold the highs established on Monday.

However, buyers have come over the past few days, with a rising trendline notable from the lows of 26 March. The current dip towards this line may well see fresh buying pressure, in which case 12,051, 12,115, and then 12,165.

S&P 500 futures edge lower

The S&P 500 recovered from Monday’s sell-off, although only partially, and is seeing some fresh selling this morning.

Initial areas of support come in at 2575 and then 2553, and then on to the 2530 low from early February. A recovery back above 2620 would target 2628, and then 2647. 

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