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

US markets suffered yesterday but are recovering, while the FTSE 100 has resumed its march higher.

FTSE 100 building on consolidation

The FTSE 100 continues its move higher, gaining ground after some consolidation over the past few days.

The outlook remains bullish, with 7796 still in sight. A move below 7543 is still needed to reverse the outlook.

DAX finding buyers

A dip to the 50-period simple moving average (SMA) at 12,941 found buyers, pushing the DAX price back towards 13,000.

A push through 13,048 would target 13,240. A move below 12,742 would be required to provide a more bearish outlook.

S&P 500 could push higher

After a pullback for the S&P 500 towards the descending trendline, the price is now recovering and may well see fresh bullish momentum.

Further gains will target the 2742 area, having seen a higher low created.

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