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

A weaker finish on Friday has left indices vulnerable to selling early on this morning. 

All trading involves risk. Losses can exceed deposits.

FTSE 100 tests trendline from February

Despite some improvement over last week, the FTSE 100 has rapidly moved below the 7105 low from five sessions ago.

It is also testing the rising trendline that has held since the February lows. Below this, 7061 comes into view, and then to 6919. A recovery above 7250 (the highs of last week) is needed to put a more bullish view on the index.

DAX breaks trendline

The week finished well, but the sellers appear to be taking charge of DAX once again.

The rising trendline from the March lows is being broken this morning, with a close below this on the four-hour chart opening the way to 12,115, 12,051 and then 11,908. A move back above 12,477 would be needed to change the outlook here.

S&P 500 pushes February trendline

The S&P 500 is testing the rising trendline from the 9 February lows at 2530.

If it bounces from here, then a move back to 2800 could be in the offing, and then potentially a new higher high. A breakdown below the trendline and back below 2730 targets 2682 and then 2647.

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