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

Indices have rebounded strongly overnight, as trade war fears ease.

FTSE 100 off the lows but still under pressure

The FTSE 100 continues to rally off the lows from last week, although it remains firmly within the current downtrend. Targets are to be found around 7025, 7061 and then 7105.

If the index turns lower, 6919 and then 6841 become possible support. The strong recovery from the lows suggests a short-term bottom has been reached, but a move above 7200 is needed to suggest a broader rally is taking place.

DAX aims for more gains

The DAX has held the long-term trendline from the 2016 lows, but has to move above 12,373 to create a new higher high.

Above 12,051, the index will target 12,477, which marked the peak during March.

S&P 500 sees late-session surge

A sharp rally off the lows has seen the S&P 500 move back above the early March lows.

The next targets are 2728 and then 2789. A turn lower will target 2628 and then 2596.

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