Third straight day of record gains for DAX 40, third week for FTSE 100 as CAC 40 levels out
Third straight day of record gains for DAX 40, third week for FTSE 100 as CAC 40 levels out despite French political turmoil.
FTSE 100 trades in six-week highs
The FTSE 100 has risen to a six-week high, close to its 8397 October peak which remains in sight. Slightly above it the early and late August peaks can be spotted at 8404-8419. If overcome, the 8500 mark would be in sight.
Minor support can now be found between the late October and last week’s 8326-8319 highs. While the last reaction lows on the daily chart down to 8237 underpin, the short-term uptrend remains intact.
FTSE 100 daily chart
DAX 40 hits new record high for third day in a row
The German DAX 40’s break through its October to November downtrend line at 19,428 has led to a swift near 4% rally in the past four days with the 20,200 mark representing the next upside target.
Minor support can now be found around the psychological 20,000 mark ahead of the October peak at 19,683.
DAX 40 daily chart
CAC 40 bounces off critical support
The CAC 40 has seen five consecutive days of mild gains despite France’s political crisis with the index slicing through its November to December downtrend line and rising towards its 25 November peak at 7338.
Were this level to be exceeded, a minor bottom may be formed with the 55-day simple moving average (SMA) at 7433 representing a possible upside target.
Significant support remains to be seen at the November to December lows at 7158-7091. Were it to give way, the August low at 7028 and the psychological 7000 mark would be back in the frame.
CAC 40 daily chart
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.
