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

After heavy losses last night, European markets are under pressure.

FTSE 100 looks to move above 7144

The FTSE 100 continued to fall heavily last night, and while it fell below 7144 support, it is fighting to move back above that level this morning.

Further declines would bring 6979 and 6919 into view as possible support. A recovery continues to target 7300 and 7400.

DAX finds support at 12,051

Yesterday’s steep drop for the DAX carried the price back to support at 12,051.

A daily close below this level would find possible support at 11,908 and 11,692. Any rally would head back towards 12,551, 12,663 and then 12,742.

S&P 500 holds above support level

The price for S&P 500 found support around the 100-day simple moving average (SMA) of 2673, and continues to hold above it this morning.

A further drop would head towards 2628, 2596 and then 2530. A bounce will look to target 2728 and then 2789.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.