FTSE 100, DAX 40 and CAC 40 slightly under pressure
FTSE 100, DAX 40 and CAC 40 begin the day slightly lower as US markets remain shut for Thanksgiving holiday.
FTSE 100 range trades
The FTSE 100 continues to sideways trade below this week’s 8319 high but remains above the 55-day simple moving average (SMA) at 8231.
Resistance above Monday’s 8319 intraday high remains to be seen between the 8326 to 8372 mid-September, early and late October highs. This zone is expected to once again cap, if reached.
Good potential support below the 55-day SMA at 8231 lies between the September to early October lows at 8196-to-8153.
FTSE 100 daily chart
DAX 40 slips
The German DAX 40 is trying to break through its October to November downtrend line at 19,438 and overcome Monday’s 19,469 high. If successful, the 6 to 11 November highs at 19,546 to 19,566 may be reached next.
Support below Friday’s intraday low at 19,351 can be seen along the 55-day SMA at 19,226 and at Wednesday’s 19,144 low.
DAX 40 daily chart
CAC 40 hovers above critical support
The French CAC 40 hovers above this week’s 7091 low which itself wasn’t made far off its August trough at 7028. Minor support above both levels can be spotted between the 13 to 21 November lows at 7158 to 7131.
A rise above Thursday’s 7207 high would put the November downtrend line at 7262 on the map. While Monday’s high at 7338 caps, though, the medium-term downtrend remains intact.
CAC 40 daily chart
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