FTSE 100, DAX 40 and S&P 500 look bid
FTSE 100, DAX 40 and S&P 500 look bid ahead of next week’s Fed monetary policy meeting.
FTSE 100 resumes ascent
The FTSE 100 recovers from its three-week low at 8,235, made near the 55-day simple moving average (SMA) at 8,239, and is about to overcome Thursday’s 8,331 high. Once bettered, the December resistance line at 8,357 will be in focus but may cap.
Below Friday’s 8,279 intraday low lies the November-to-December uptrend line at 8,260.
DAX 40 remains bid
The German DAX 40 has Monday’s 20,476 record high in its sight, a rise above which will lead to the 20,500 mark being eyed.
Minor support is found at Tuesday’s 20,260 low and further support around last Wednesday’s 20,264 high and Thursday’s 20,197 low. Still more important support can be seen around the psychological 20,000 mark ahead of the October peak at 19,683.
S&P 500 remains above wedge support line
The S&P 500 still consolidates below last week’s 6,099 record high but remains above its multi-month long wedge support line at 6,053 ahead of the weekend. Were it to give way, the psychological 6,000 mark would be back in focus.
A rise above last week’s high at 6,099 would engage the July-to-December resistance line at 6,127.
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