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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

FTSE 100, DAX 40 and Nasdaq 100 trade close to late November highs

​​​FTSE 100, DAX 40 and Nasdaq 100 trade close to late November highs​ as traders return to work following US Thanksgiving holiday.​

FTSE Source: Adobe images

​​​FTSE 100 continues to sideways trades

​​The FTSE 100 continues to range trade below its 8319 November high but above the 55-day simple moving average (SMA) at 8231.

​Resistance above the 8319 November peak can be spotted between the 8326 - 8372 mid-September, early and late October highs. This area is expected to once again cap, though, if reached at all this year.

​Good potential support below the 55-day SMA at 8231 sits between the September to early October lows at 8196 - 8153.

FTSE 100 daily chart Source: IT-Finance.com
FTSE 100 daily chart Source: IT-Finance.com

​Dax 40 trades within a whisker of its all-time high

​The German DAX 40’s break through its October to November downtrend line at 19,428 has taken it to its 19,681 November peak, to marginally below its 19,683 October record high. If overcome, the 20,000 region would be back in the picture.

​Potential slips may find support around the 19,566 - 19,547 6 to 11 November highs.

DAX 40 daily chart Source: IT-Finance.com
DAX 40 daily chart Source: IT-Finance.com

​Nasdaq 100 remains side-lined after Thanksgiving holiday

The Nasdaq 100 continues to trade in low volatility following the United States’s (US) Thanksgiving holiday with the late November high at 21,003 acting as a potential upside target but also as resistance. If bettered, the November record high at 21,233 would be in view.

​Minor support can be seen around the 19 to 20 November highs at 20,744 - 20,753. If slipped through, the August to November uptrend line at 20,655 may be revisited but should offer support.

Nasdaq 100 daily chart Source: IT-Finance.com
Nasdaq 100 daily chart Source: IT-Finance.com

This information has been prepared by IG, a trading name of IG Markets Limited. 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.

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