FTSE 100, DAX 40 under pressure while Nasdaq 100 probes key support
FTSE 100, DAX 40 under pressure while Nasdaq 100 probes key support following Friday’s stronger-than-expected US non-farm payrolls jobs report.
FTSE 100 under pressure
The FTSE 100's slip from its three-week high at 8327 has taken the index to its 200-day simple moving average (SMA) at 8222 which offers support with the 55-day SMA at 8201 and the 7 January low at 8186. A fall through this level would push the psychological 8000 region back on the cards.
Minor resistance can be seen around the 8267 early January high.
The current January high at 8327 would need to be exceeded for the October and December highs at 8389 to 8397 to be in focus.
FTSE 100 daily chart
DAX 40 continues to slide
The German DAX 40 index's tumble through Wednesday's 20,242 low has so far taken it to Monday's intraday low at 20,139. If slipped through, the late December high at 20,0024 and the psychological 20,000 region may be back in sight.
Minor resistance sits at the 10 December 20,259 low.
DAX 40 daily chart
Nasdaq 100 probes key technical support
The Nasdaq 100 probes support made up of the December and current January lows at 20,769 to 20,705. If dropped through on a daily chart closing basis, the mid-November low at 20,306 would be next in line.
Immediate downside pressure should retain the upper hand while the index remains below the 55-day SMA at 21,042 and more importantly, Friday's 21,200 high.
Nasdaq 100 daily chart
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
