FTSE 100 looks bid as NASDAQ 100 struggles
FTSE 100 looks bid as NASDAQ 100 struggles to make much headway in relatively low volume trading.
FTSE 100 remains bid
The FTSE 100's recovery from its November and December 7995 low has taken the UK blue chip index above the 55- and 200-day simple moving averages (SMA) at 8206 to 8214 towards the December to January resistance line at 8300 and the 6 November high at 8304.
The two moving averages should now act as support. Further minor support is seen around the 27 December high at 8159 which was made within the 8183 to 8196 late September and early October lows.
FTSE 100 daily chart
NASDAQ 100 looking shaky
The NASDAQ 100's recent decline has taken it to 20,769, close to its December 20,725 low, before levelling out above its 55-day SMA at 20,948. This may act as short-term support.
A rise above Thursday's 21,275 is needed for a retest of the 21,233 November peak.
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
