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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

FTSE 100 stumbles as DAX and S&P 500 look to move higher

While UK markets continue to drop back, the DAX is holding the 200-day moving average and the S&P 500 is back at recent highs.

Indices Source: Bloomberg

FTSE 100 falls below 5900

The FTSE 100 has seen fresh losses this morning, wiping out the small gains made late on Friday.

Having dropped below 5950, the price remains under pressure, with 5650 and then 5400 as possible near-term targets. Certainly, there is no change to the progression of lower highs seen over the past three weeks, and until this happens we expect further losses here.

FTSE 100 chart Source: ProRealTme
FTSE 100 chart Source: ProRealTme

DAX looks to hold 200-day SMA

The price of the DAX is holding above the lows of last week, as it hovers above the 200-day simple moving average (SMA) of 12,192.

Gains at the end of last week stalled around 12,550, so if we are to see a recovery this is the first area to watch. Beyond this 12,900 comes into view. Below the 200-day SMA the price targets 12,000 and then down to 11,715.

DAX chart Source: ProRealTime
DAX chart Source: ProRealTime

S&P 500 holds near recent peak

The S&P 500 staged a last-minute rebound on Friday that saw it recovery its losses and bounce from 3215 for the second time in as many days.

Further gains towards 3300 would renew the uptrend, while a breach of 3200 is required to open the way to more downside.

S&P 500 chart Source: ProRealTime
S&P 500 chart Source: ProRealTime

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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