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

Indices appear to be on the up once more, shrugging off any concerns regarding the Iran situation. 

Buyers begin to come for FTSE 100

Another pullback has seen buyers begin to enter, pushing the FTSE 100 back towards the recent highs and holding above the 50-period simple moving average (SMA) at 7544 on the four-hour chart once more.

From here, 7712 and then 7800 come into play. There have been few bearish signs over the past few weeks, but a move below 7500 might signal a weakening of momentum.

DAX moves towards 12,954

The DAX continues to bump along below the 12,954 level.

A breakout from here would put the index on course to challenge 13,200 and then 13,600. A deep pullback towards 12,600 would provide another possible buying opportunity, while remaining within the current strong uptrend.

S&P 500 looks to break higher

The S&P 500 appears to have recovered from short-term weakness over the past few days, and is looking to challenge the 2682 level in order to break higher.

From here, the downtrend line from the all-time highs comes into play, around 2700, and then the mid-April high at 2718. 

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