FTSE 100 and DAX 40 begin the new year on a slightly positive footing
FTSE 100 and DAX 40 begin the new year on a slightly positive footing as traders gradually return to the markets
FTSE 100 looks short-term bid at beginning of new year
The FTSE 100's recovery from its November and December low of 7995 is taking it towards the 55- and 200-day simple moving averages (SMA) at 8208 - 8212. The advance may face resistance around these levels.
Potential declines may find support around the 27 December high at 8159, within the 8183 - 8196 range observed in the late September and early October lows.
Further minor support sits at the 31 December low of 8086.
FTSE 100 daily chart
DAX 40 begins new year on slightly positive footing
The German DAX 40 index is bouncing off Monday’s low of 19,748 towards minor resistance between the psychological 20,000 mark and the late December high at 20,024.
Support below Monday’s 19,748 low can be identified between the October highs at 19,683 – 19,643, the 20 December low at 19,635, and the 55-day SMA at 19,643.
DAX 40 daily chart
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