FTSE 100, DAX 40 and NASDAQ 100 hover above late October lows
The FTSE 100, DAX 40, and NASDAQ 100 are hovering above late October lows ahead of Tuesday’s U.S. presidential election, which could introduce volatility.
FTSE 100 hovers above last week’s low
The FTSE 100's recovery from last week’s low at 8,070 has taken it back to the September-to-early October lows at 8153 - 8196 which acted as resistance on Friday. A rise above Friday’s high at 8023 would put the 15 October low at 8235 on the map. While the next higher 55-day simple moving average (SMA) and October resistence line at 8275 - 8281 cap, sideways trading is at hand.
Only a fall through last week’s and the late July low at 8070 - 8056, would put the psychological 8000 mark on the cards.
For a bullish reversal to be seen, a rise and daily chart close above Tuesday’s high at 8326 would need to occur.
DAX 40 hovers above key support area
Last week the DAX 40 index dropped to 19,004, close to its 18,909 early October low. While this support zone underpins, a bullish reversal towards the 20,000 mark may ensue. Failure at 18,909 would confirm a medium-term top, though, and could lead to the 200-day SMA at 18,313 being revisited.
NASDAQ 100 holds above support ahead of US election
The NASDAQ 100's swift late October bearish reversal off its 20,652 high has taken it to last week’s low at 19,877, a three-week low. Were it to give way, the early October low at 19,611 would be back in play, a fall through which creating a bearish trend reversal. As long as the 19,928 - 19,877 support zone underpins, though, the late September high at 20,316 may be reached once more.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
