Levels to watch: FTSE 100, DAX and Dow
Indices have seen further losses this morning, as markets digest purchasing managers index (PMI) data from the eurozone and await US PMI figures.
FTSE 100 holds above trendline
The FTSE 100 has tested key trendline resistance from above, finding support around 7450. Further gains above 7487 target 7560 and then 7644.
A turn lower in the near term targets 7420 and then 7385.
DAX edges lower after bullish run
The DAX's strong performance of the past few days has given way to some near-term weakness, but the overall trend remains intact.
In the short-term, a higher low has been created around 12,100, and further gains target 12,200 and then 12,300. A move below 12,080 would be a bearish development, potentially opening the way to 12,030 or down to 11,800.
Dow stalls below 26,500
Gains above 26,500 have proven hard to sustain for the Dow, but a dip towards 26,350 has proven to be a possible buying opportunity. A push towards 26,450 encounters trendline resistance from the 16 April peak.
Above 26,500, the price targets the all-time highs at 26,951. A move below 26,300 would likely provide a more bearish view in the short term, targeting 26,100.
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