FTSE 100, Dow and Nasdaq 100 look short-term bid
FTSE 100, Dow and Nasdaq 100 look short-term bid ahead of curtailed holiday week.
FTSE 100 continues to rise
The FTSE 100's recovery from last week's and its November 7,995 low is ongoing with the September low at 8,153 and the 8,183-to-8,196 late September and early October lows remaining in sight. This resistance area is likely to cap into year-end, though.
Minor support remains to be seen at the 19 November low at 8,051 and more significant support around the psychological 8,000 mark.
Dow Jones Industrial Average recovery is ongoing
The Dow remains below its December downtrend line at 43,075 despite bouncing off Friday's 42,029 six-week low.
The downtrend line at 43,075 and Friday's high at 43,195 need to be exceeded, for the next higher 43,332 October peak to be reached. Together with the 55-day simple moving average (SMA) at 43,441 it is likely to act as resistance.
Minor support below Thursday's 42,750 high can be spotted at Monday's 42,472 low.
Nasdaq 100 on track for third day of straight gains
The Nasdaq 100 is on track for its third straight day of gains and has the 9 December high at 21,664 in its sights.
If overcome, the 11 December high at 21,784 may also be reached this week.
Potential slips may find support around Thursday's 21,403 high and at Monday's 21,206 low.
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.
