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

Bargain hunters are active in equities, after US markets moved off their lows and Asia witnessed a positive session.

FTSE 100 retakes 7000

The FTSE 100 found support right on the 6919 lows from February, an eerie reminder of the sell-off at the start of the year.

It has continued its recovery and moved back above 7000. Yesterday’s highs at 7088 could provide some resistance, but a close above here would be a good first step in any recovery.

DAX recovers from lower low

The DAX clocked up a new lower low this week in the general sell-off, but a rebound from 11,426 is now gathering strength.

Thursday’s high of 11,700 is the first area to breach, and then from there 11,800 and 12,100 come into view.

S&P 500 surges off the lows

We have seen the price rally off the lows, and now the S&P 500 is attempting to hold above the 200-day simple moving average (SMA) at 2768.

This would be a symbolic achievement for the bulls, but a close above 2800 would be the more substantial victory.

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