DAX 40, Dow and NASDAQ 100 resume their ascents
DAX 40, Dow and NASDAQ 100 recover from this week’s lows as more buyers pile in ahead of weekend.
DAX 40 resumes its ascent
The German DAX 40 index is heading back up again with last week’s highs at 19,293-to-19308 being aimed at. If overcome, the October-to-November downtrend line at 19,445 would be back in play.
Major support below the 55-day simple moving average (SMA) at 19,147 remains to be seen between the 19,048-to-18,810 late September-to-November lows. While it underpins, further range trading with a short-term bullish bias remains in play.
Dow Jones Industrial Average once more looks bullish
The Dow Jones' corrective phase following its November 44,496 record high to this week’s 42,855 low is being followed by another up leg with the 44,500 region being back in play.
Potential slips should find support around the mid-October high at 43,332.
NASDAQ 100 range trades with minor bullish bias
The NASDAQ 100's drop to this week’s 20,291 two-week low amid rising US Treasury yields has been followed by sideways trading with a slightly bullish tilt. A rise above Thursday’s 20,815 high would push the psychological 21,000 region back to the fore.
Good support is seen between the August-to-November uptrend line and this week’s low at 20,420 to 20,291. Only a tumble through 20,291 would engage the August high and the October-to-November lows at 19,938-to-19,611.
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