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

Indices shot higher yesterday, and are looking for more gains today.

FTSE 100 continues rally

The FTSE 100 has rallied sharply over the past two weeks, and now 7256, 7300 and 7400 are in sight as possible areas of resistance.

So far, dips have been bought this week, so pullbacks that remain above 7100 may continue to find buyers. A move below 7060 would signify a fresh bearish turn.

DAX nears February highs

The DAX is approaching the downtrend line from the February highs. A break above 12,300 would be a positive sign, and being 12,477 into view as a target.

A turn lower below 12,300 would signify another move lower, but so far since February, 11,700 has acted as a very strong area of support, so bears will need to break this to really suggest a bigger move lower is underway.

S&P 500 continues moving up

While futures took a knock overnight as President Donald Trump got worked up about tariffs again, the S&P 500 has steadily recovered and maintained its upward move.

Further gains will target the 2680 area that held back progress over the past two weeks. Above this, 2730 comes into play. A drop back below 2620 would suggest another test of 2600 and 2550. 

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