FTSE 100, DAX 40 and Nasdaq 100 mixed
FTSE 100, DAX 40 and Nasdaq 100 mixed as traders return from festive season.
FTSE 100 little changed
The FTSE 100's recovery from its November and December 7,995 low has taken the UK blue chip index above the 55- and 200-day simple moving averages (SMA) at 8,206-to-8,214, around which it oscillates. The December-to-January resistance line at 8,300 and the 6 November high at 8,304 remain in sight.
The two moving averages act as minor support. Further minor support is seen around the 27 December high at 8,159 which was made within the 8,183-to-8,196 late September and early October lows.
DAX 40 stays side-lined
The German DAX 40 index continues to sideways trade between the late December 19,748 low and the 20,029 early January high. If overcome, the 10 December low at 20,260 would be back in focus.
Support below the late December 19,748 low can be found between the October highs and 55-day SMA at 19,683-to-19,643 and the 20 December low at 19,635.
Nasdaq 100 continues to rise
The Nasdaq 100's advance from its 20,769 early January low, made within reach of its December 20,725 low, has so far taken it to 21,384 while targeting the 20 December high at 21,529. Further up lies the 25 December peak at 21,587 which represents another potential upside target.
Major support below the 55-day SMA at 20,973 sits at 20,769-to-20,725. While it underpins, the medium-term uptrend remains intact.
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