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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Indices still on the back foot after recent losses

Stock markets are struggling as a new week gets underway, with European markets in the red in early trading.

Source: Bloomberg

FTSE 100

Friday’s decline has resumed today, with the FTSE 100 at its lowest level since mid-May.

After stalling below 7200 since mid-June there is now a full-blown retracement underway. The first area of support to watch is 6875, a region crucial in April and May. Below this 6600 could potentially come into play.

Dip buyers will want to see a recovery above 7000 to establish a higher low.

Source: ProRealTime

DAX

Three days of notable losses still leave the DAX heading towards the 15,278 lower bound of the recent trading range. A break below this brings 15,000 into view, with dips just below this around 14,950 finding buyers back in April.

As yet the buyers do not appear to have any ability to hold back this market from further declines.

Source: ProRealTime

S&P 500

The S&P 500 has gapped lower and is looking to push back towards the 50-day simple moving average (SMA), currently at 4244.

Since late January pullbacks have either found support at the moving average or have briefly pushed below it before rebounding. Buyers will be watching to see if the same thing occurs this time.

Source: ProRealTime

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