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

Indices are faltering but the gains made over the past two sessions are still mostly intact.

FTSE 100 attempting to push higher

The recovery continues for the FTSE 100, although it has stumbled for now around 7200.

Further gains bring 7300 and 7450 into play, with the bulls still in charge for the time being, thanks to Friday’s sharp rally off the lowers. The levels to watch on the downside are 7090 and then 6919.

DAX has slowed after the bounce

The bounce has stalled below 12,400 for the DAX.

If we see further weakness, the possibility of a move back towards 12,000 increases. Above 12,400, the next big level to watch is 12,678.

Buyers still in control despite S&P 500 stalling

After two strong sessions it is not surprising to see the S&P 500 struggle this morning.

However, the steady bounce does suggest the buyers remain in control, and we look for a move back to 2702 and then 2720.

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