Levels to watch: FTSE 100, DAX and Dow
Indices are moving higher this morning, as buyers look to follow up the recent sell-off with a fresh move higher.
FTSE 100 creates higher low
The pullback here has been dramatic given the relative quiet of the past few months, but we have seen the FTSE 100 stabilise for now above 7300.
If this is another higher low then gains will head to 7500 and 7600, while a failure to hold on to the 50-day simple moving average (SMA) at 7305 would open the way to 7160 and 7060, where the index rallied in March.
DAX renews its attempts to break higher
The DAX continues to hover below 12,400.
A break higher would target 12,600 and 12,850 while a deep retracement targets 11,850 and rising trendline support from the December lows.
Dow fights to hold support
For now the area around 26,150 continues to hold as support for the Dow Jones, but a break lower would target 26,400, an area of support in March.
Above 26,680 the 26,780 and then 26,950 zones are upside targets, the latter being the record high from last October.
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