FTSE 100, DAX 40 and CAC 40 slightly under pressure
FTSE 100, DAX 40 and CAC 40 begin the day slightly lower as US markets remain shut for Thanksgiving holiday.
FTSE 100 range trades
The FTSE 100 continues to sideways trade below this week’s 8,319 high but remains above the 55-day simple moving average (SMA) at 8,231.
Resistance above Monday’s 8,319 intraday high remains to be seen between the 8,326-to-8,372 mid-September, early and late October highs. This zone is expected to once again cap, if reached.
Good potential support below the 55-day SMA at 8,231 lies between the September to early October lows at 8,196-to-8,153.
DAX 40 slips
The German DAX 40 is trying to break through its October-to-November downtrend line at 19,438 and overcome Monday’s 19,469 high. If successful, the 6 to 11 November highs at 19,546-to-19,566 may be reached next.
Support below Friday’s intraday low at 19,351 can be seen along the 55-day SMA at 19,226 and at Wednesday’s 19,144 low.
CAC 40 hovers above critical support
The French CAC 40 hovers above this week’s 7,091 low which itself wasn’t made far off its August trough at 7,028. Minor support above both levels can be spotted between the 13 to 21 November lows at 7,158-to-7,131.
A rise above Thursday’s 7,207 high would put the November downtrend line at 7,262 on the map. While Monday’s high at 7,338 caps, though, the medium-term downtrend remains intact.
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