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

So far, indices are not seeing much bullish momentum, despite yesterday’s recovery in risk appetite.

DAX
Source: Bloomberg

FTSE 100 comes under pressure

The FTSE 100 continues to hold above 7360, but it is proving difficult to move much higher. However, so long as 7360 holds, then a rebound to 7400 and higher is still possible.

A daily close below 7360 would open the way to 7294, and then 7260.

DAX bounce pauses

The DAX has stumbled at 13,095, so this is the area to watch for the time being.

The two key levels to watch on the downside are 12,954, and then 12,844. 

S&P 500 hits resistance

The surge for the S&P 500 from the lows of Wednesday has run into resistance at 2588.

Further losses would raise the prospect of a move back to 2565, and then down to Wednesday’s low at 2556.

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