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Levels to watch: FTSE 100, DAX and Dow

A pullback in risk assets over the past few hours looks to be giving way to fresh buying. 

Wall Street
Source: Bloomberg

FTSE 100 drops back from key level

The FTSE 100 index fell back from the 7294 level yesterday, indicating that any upward progress must break this level. A continuation of the downward move from yesterday’s high would look to test last week’s low, at 7195.

Below this, 7187 and then 7090 come into play. A move back above 7294 would then head towards 7450.

DAX rallies once more

Dips are short-lived here for DAX, and so far the zone from 12,500 to 12,560 continues to provide support. A push above 12,650, the high from earlier in the week, and then through the July high at 12,675, would leave the 12,881 area as resistance.

A close below 12,300 is needed to fundamentally reverse the outlook. 

Dow looks to retake all-time highs

A drop back from all-time highs yesterday stalled the steady rally for Dow Jones and ended the recent winning streak. The record high at 22,429 is the sole point of resistance.

A move back below 22,300 would then head towards the previous peak at 22,179. 

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