DAX 40 rallies after German election while FTSE 100, Nasdaq 100 stabilise
DAX 40 rallies after German conservative party election win while FTSE 100, Nasdaq 100 stabilise.
DAX 40 rallies by over 1% after German election
The German DAX 40 index recovered from Friday’s 22,114 low, made close to its January-to-February uptrend line, following the centre right’s CDU/CSU election win. Above Thursday’s high at 22,576 lies the 18 February low at 22,710 which may act as resistance.
The January-to-February uptrend line at 22,160 and last week’s low at 22,114 should offer good support. If giving way, though, the late January high at 21,802 could be eyed, though.
FTSE 100 remains under pressure
The FTSE 100 continues its gradual decline from its mid-February 8,836 record high and trades in three-week lows with Friday's low at 8,614 and the 24 January high at 8,587 remaining in sight.
The mid-February 8,702-to-8,705 lows should act as resistance, if revisited at all. Only if they and Thursday's 8,708 high were to be bettered, may the 13 February low at 8,730 may be revisited.
Nasdaq 100
On Friday the Nasdaq 100 took an over 2% hit amid concerns regarding US tariffs and the state of the US economy. The index managed to find support at 21,584, marginally above the 55-day SMA at 21,533.
Minor resistance is seen around the 21,704 early January high and then between the late January to early February highs at 21,847-to-21,870.
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