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

Levels to watch: FTSE 100, DAX and Dow

Global markets are drifting lower, yet with uptrends in play for the FTSE 100, DAX and Dow, such downside looks like it could provide a good buying opportunity.

FTSE 100 retraces within recent uptrend

The FTSE 100 has been drifting lower after a break through the 6910 resistance level earlier in the week. There is a strong chance we could see another move higher from here, with a break below 6776 required to negate the uptrend that has been in play.

Until then, this pullback could provide another buying opportunity for the short term.

DAX pullback provides buying opportunity

The DAX is also retracing within a short-term uptrend. That provides us with a potential buying opportunity, with a break below the 10,679 level required to negate the short-term bullish trend.

A break through 10,987 would provide greater confidence in this uptrend, yet with higher highs and lows continuing for now, further gains seem likely.

Dow rallies into SMA resistance

The Dow Jones has rallied into the 200-day simple moving average (SMA) on the four-hour chart this morning, with the index starting to drift lower.

There is a good chance that we are going to see further upside come into play before long, yet this retracement could last for some time. Thus, it makes sense to view this downside as a precursor to a better buying opportunity, with a break below 22,587 required to negate the bullish trend in play.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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