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

Indices are back on the front foot, having recovered well during the second half of last week. 

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FTSE 100 sees fresh momentum

A solid defence of 7600 last week helped the FTSE 100 to recover from its first meaningful pullback in weeks.

The next major targets come in at 7800 and then the all-time high at 7903. It would take a move back below 7600 to suggest that a more bearish view is developing. Otherwise, intraday dips remain opportunities to add to positions.

DAX finds news strength

The DAX has recovered from the lows of last week, and now is looking to challenge the short-term downtrend from the recent high.

Above 12,830 the index targets 12,953 and then 13,208. Potential support is to be found around 12,742 and then 12,663. Having risen relentlessly from the Thursday low, around 12,550, some weakness is to be expected, but as long as this holds above 12,650 it looks like another buying opportunity.

S&P 500 looks to break 2740

After a dip below 2700 last week, the S&P 500 has recovered and is now poised to challenge the 2740 area that has held back progress since early May.

Above here, 2789 and then 2802 are the targets to watch. Dips towards 2720 may find support, with the index in a steady uptrend from the lows of last Thursday. 

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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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.