FTSE 100 trades in six-week lows, S&P 500 in six-month lows while DAX 40 hovers above support
FTSE 100 trades in six-week lows, S&P 500 in six-month lows while DAX 40 hovers above support amid ongoing US tariff threats and fears of US recession.
FTSE 100 trades in six-week lows
On Tuesday the FTSE 100 dropped to a six-week low at 8464, to marginally above its 8427 late January low. Were it to give way, the major support zone made up of the July to December highs at 8419 to 8389 may be revisited but should hold.
Minor resistance above the 55-day SMA at 8532 sits at the 8614 late February low.
FTSE 100 daily chart
Germany 40 hovers above key support
The Germany 40 index dropped to 22239 on Tuesday, close to its 22212 late February low below which lies the 21 February low at 22114. Together these lows form good support.
Were it to be fallen through, the late January high at 21802 may be revisited.
Minor resistance can be spotted at the 26 February high at 22829 ahead of the February peak at 22937.
Germany 40 daily chart
US 500 trades in six-month lows
The US 500 remains in six-month lows but tries to recover from Tuesday's low at 5527. While it underpins, the 5674 to 5696 October to November 2024 lows may be retested but are likely to act as resistance.
Were Tuesday's low at 5527 to give way on a daily chart closing basis, a more significant decline towards the August low at 5091 may be at hand.
US 500 daily chart
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