DAX 40 rallies after German election while FTSE 100, Nasdaq 100 stabilise
DAX 40 rallies after German conservative party election win while FTSE 100, Nasdaq 100 stabilise.
Germany 40 rallies by over 1% after election
The Germany 40 index recovered from Friday's 22,114 low, made close to its January to February uptrend line, following the centre right's CDU/CSU election win. Above Thursday's high at 22,576 lies the 18 February low at 22710 which may act as resistance.
The January to February uptrend line at 22160 and last week's low at 22,114 should offer good support. If giving way, though, the late January high at 21,802 could be eyed, though.
Germany 40 daily chart
FTSE 100 remains under pressure
The FTSE 100 continues its gradual decline from its mid-February 8836 record high and trades in three-week lows with Friday's low at 8614 and the 24 January high at 8587 remaining in sight.
The mid-February 8702 to 8705 lows should act as resistance, if revisited at all. Only if they and Thursday's 8708 high were to be bettered, may the 13 February low at 8730 may be revisited.
FTSE 100 daily chart
US Tech 100
On Friday, the US Tech 100 took an over 2% hit amid concerns regarding US tariffs and the state of the US economy. The index managed to find support at 21,584, marginally above the 55-day SMA at 21,533.
Minor resistance is seen around the 21,704 early January high and then between the late January to early February highs at 21,847 to 21,870.
US Tech 100 daily chart
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