FTSE 100, DAX 40 trade near record highs as CAC 40 approaches July peak
FTSE 100, DAX 40 trade near record highs as CAC 40 approaches July peak as US stock markets are shut for Trump inauguration.
FTSE 100 trades near record high
The FTSE 100's strong rally has taken it to a record high at 8,534 on Friday, below which it is now trading amid closed US stock markets due to Donald Trump's inauguration as the 47th US President.
Above 8,534 lies the 8,600 region while the May peak at 8,479 is expected to offer support ahead of the major 8,419-to-8,372 support area, made up of the July-to-December highs.
DAX 40 flirts with the 21,000 region
Last week the German DAX 40 index hit three straight all-time highs and rose to 20,926 with the 21,000 mark remaining at hand.
Minor support is seen at the 16 January 20,705 high, Friday's 20,632 low and Thursday's 20,576 low and further support around the 20,527 December peak.
CAC 40 approaches July peak
The CAC 40 has seen a strong rally over the past three days, mimicking its European counterparts, and is about to hit its 7,742 July peak. Together with the 7,813 September high it may act as considerable resistance, though, at least this week.
Potential slips may find support around the 7,694 August peak or the 7,644 mid-October high. Further potential support is seen along the 200-day simple moving average (SMA) at 7,592.
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