FTSE 100, Dax 40 and S&P 500 kick off new year on a positive footing
Outlook on FTSE 100, DAX 40 and S&P 500 as markets re-open after the festive season.
FTSE 100 aims for its September and December highs
The FTSE 100 begins the new year on a stronger footing and eyes its September and December highs at 7,747 to 7,769 despite a mixed session in Asia.
While Thursday’s low at 7,705 holds, upside pressure should be maintained with the 7,747 to 7,769 region representing upside targets ahead of the 7,800 mark.
A slip through 7,705 would likely retest the 7,702 October peak below which the November-to-December uptrend line can be spotted at 7,676.
DAX 40 kicks off new year on a positive footing
The Germany 40 index is targeting its recent highs at 16,809 to 16,812 ahead of final German PMIs. If exceeded, the December record high at 17,003 should be back in focus.
Support below Thursday’s 16,686 low lies at the 20 December 15,595 low. Only if this low were to give way, would the July peak at 16,532 be back on the map but would be expected to offer support.
S&P 500 is beginning to show negative divergence on the daily RSI
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