FTSE 100 trades in six-week lows, S&P 500 in six-month lows while DAX 40 hovers above support
FTSE 100 trades in six-week lows, S&P 500 in six-month lows while DAX 40 hovers above support amid ongoing US tariff threats and fears of US recession.
FTSE 100 trades in six-week lows
On Tuesday the FTSE 100 dropped to a six-week low at 8,464, to marginally above its 8,427 late January low. Were it to give way, the major support zone made up of the July-to-December highs at 8,419-to-8,389 may be revisited but should hold.
Minor resistance above the 55-day SMA at 8,532 sits at the 8,614 late February low.
DAX 40 hovers above key support
The German DAX 40 index dropped to 22,239 on Tuesday, close to its 22,212 late February low below which lies the 21 February low at 22,114. Together these lows form good support.
Were it to be fallen through, the late January high at 21,802 may be revisited.
Minor resistance can be spotted at the 26 February high at 22,829 ahead of the February peak at 22,937.
S&P 500 trades in six-month lows
The S&P 500 remains in six-month lows but tries to recover from Tuesday's low at 5,527. While it underpins, the 5,674-to-5,696 October-to-November 2024 lows may be retested but are likely to act as resistance.
Were Tuesday's low at 5,527 to give way on a daily chart closing basis, a more significant decline towards the August low at 5,091 may be at hand.
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