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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 70% 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.

FTSE 100 and Dax turn down as S&P 500 consolidates

European indices have struggled to hold their ground while the S&P 500 has hit a speed-bump after recent strong gains.

Source: Bloomberg

FTSE slips below 50-day MA

It certainly looks like the FTSE 100 is engaging in a replay of previous lower highs in its current downtrend from the June highs. The price slipped yesterday and has moved below the 50-day MA (5991) today. For now it holds rising trendline support from the September low, but a drop below 5930 would likely signal the start of a deeper pullback that brings 5800 into view. A rally above 6040 negates this bullish view.

Source: ProRealTime

Dax holds 13,000 for now

The push higher in DAX has encountered a reverse, with the price dropping back from Monday’s highs. Rising trendline support from the September low comes back into play around 12,900, while below this a more bearish near-term view emerges, potentially bringing 12,400 into view. Alternately further gains head towards 13,300.

Source: ProRealTime

S&P 500 edges back from recent high

The relentless move higher in S&P 500 paused yesterday, dropping back from 3550. A full-blown reversal has yet to develop, and instead perhaps a shorter-term drop towards 3450 is likely. Further gains target the September record high at 3590.

Source: ProRealTime

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