FTSE 100, DAX 40 and S&P 500 recover from Friday’s lows
FTSE 100, DAX 40 and S&P 500 recover from Friday’s lows amid US administration policy turmoil.
FTSE 100 bounces off support
Last week the FTSE 100 managed to find support at 8,625, marginally above its 8,614 late February low.
Were these levels to be fallen through, the 24 January high at 8,587 would be next in line, ahead of the early February low at 8,509.
Immediate resistance sits at Friday's 8,750 high ahead of the breached December-to-March uptrend line at 8,762 and the 18 February peak at 8,788.
DAX 40 remains bid
The German DAX 40 index recovered from Friday’s 22,851 low and targets Friday's 23,287 and the early March 23,307 highs. Above these lies last week's record high at 23,473.
Minor support below the 22,937 mid-February high sits between Friday's 22,851 low and the late February 22,829 high.
S&P 500 is trying to recover from key support
The S&P 500 remains close to Friday's near five-month low at 5,665, marginally below the 5,696-to-5,674 October-to-November 2024 lows which offer support.
Were it to give way and a daily chart close to be made below last week's 5,665 low, a more significant decline may take the US index to its August low at 5,091.
Resistance can be spotted along the 200-day SMA at 5,755 and between the 7,772-to-5,798 December-to-January lows.
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