FTSE 100 consolidates while DAX 40 slips and NASDAQ 100 loses volatility
FTSE 100 consolidates while DAX 40 slips and NASDAQ 100 loses volatility ahead of the US Thanksgiving holiday.
FTSE 100 consolidates
The FTSE 100 is gradually slipping from this week’s 8,319 high but seems to be supported by the 55-day simple moving average (SMA) at 8,231.
Resistance above Monday’s 8,319 intraday high can be seen between the 8,326-to-8,372 mid-September, early and late October highs. This area is expected to once again cap.
Good potential support below the 55-day SMA at 8,231 sits between the September to early October lows at 8,196-to-8,153.
DAX 40 slips
The German DAX 40 index continues to come off Monday’s 19,469 high as the threat of Trump tariffs hangs over the German automobile industry. The 55-day SMA at 19,196 may act as support ahead of the major 19,004-to-18,810 support zone. It consists of the late September-to-November lows and is the line in the sand for the medium-term trend.
Resistance above the 14 November high at 19,308 is seen along the October-to-November downtrend line at 19,341.
NASDAQ 100 side-lined ahead of Thanksgiving
The NASDAQ 100 is experiencing a loss of volatility ahead of the Thanksgiving holiday with Monday’s high at 21,003 acting as the first resistance marker. If overcome, the current November record high at 21,233 would be in focus.
Minor support can be seen around the 19 to 20 November highs at 20,744-to-20,753. If slipped through, the August-to-November uptrend line at 20,530 may be revisited.
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