FTSE 100 and Dow slightly under pressure
FTSE 100 and Dow slightly under pressure following Friday’s low volume holiday season sell-off.
FTSE 100 opens lower
The FTSE 100's recovery from its November and current December 7,995 low seems to have run out of steam at Friday’s 8,159 high with the 8,100 region being revisited.
Friday’s high sits within the 8,183-to-8,196 late September and early October lows which, as expected, acted as resistance.
Minor support below Monday’s 8,100 low can be seen at the 19 November low at 8,051. More important support comes in around the psychological 8,000 mark and at 7,995.
Dow Jones Industrial Average slips
The Dow Jones' bounce off its 20 December low at 42,029 seems to have run out of steam at last week’s 43,331 high, made marginally below the 55-day simple moving average (SMA) at 43,468.
Today it remains below its December downtrend line at 43,120, which should cap any upside attempt, but above Friday’s 42,687 low. If fallen through, last Monday's 42,472 low would be back in the picture.
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