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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 71% 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.

Levels to watch: FTSE 100, DAX and Dow

Indices rebound after last week’s sell-off, yet with near-term resistance appearing, we will need further gains to provide a more bullish weekly view.

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Source: Bloomberg

FTSE 100 rebounds towards double bottom neckline

The FTSE 100 has moved sharply higher this morning, following on from last week’s deterioration.

There is a good chance we will see a more protracted rebound, with the ability to break above 6953 the key to providing a bullish short-term view. Until then, there is still a chance of further downside.

DAX gaining ground from key support

The DAX has been turning higher following a drop into the ascending trendline dating back to early February.

There is a strong chance that we will see the price retrace the wider sell-off, with a bullish confirmation coming with an hourly candle closed above the 12,003 swing high. On the flip side, should we see an hourly close below 11,756 support, this would point towards a bearish continuation picture.

Will Dow rebound last?

The Dow Jones has seen some gains coming into play this morning, following a drop below the 76.4% retracement.

That inability to respect the Fibonacci support points towards the potential for further downside. However, whether we start to see a more bullish short-term view is reliant upon the ability to post an hourly close above 24,110. 

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