FTSE 100, DAX 40 and Dow give back gains
FTSE 100, DAX 40 and Dow take a hit amid hawkish Trump cabinet nominations which may want to introduce tariffs.
FTSE 100 falls through support
The FTSE 100 slid through its 8,070-to-8,056 support zone on Tuesday and dipped to 8,012 with the psychological 8,000 mark remaining in sight. If also fallen through, the August low at 7,914 would be back in play.
Because of inverse polarity the previous 8,070-to-8,056 support zone should now act as a resistance area with the 200-day simple moving average (SMA) at 8,122 providing further potential resistance.
DAX 40 digs into major support
The DAX 40 index swiftly tumbled by around 2% to its key September-to-November support zone at 19,004-to-18,909 which so far underpins. Were it to give way on a daily chart closing basis, though, a medium-term top could be formed with the 200-day SMA at 18,393 being back in sight.
Minor resistance can now be spotted along the 55-day SMA at 19,086 and the breached August-to-November uptrend line, now because of inverse polarity a resistance line, at 19,140.
Dow Jones Industrial Average rally takes a breather
Last week’s over 5% Trump presidential election win induced Dow Jones rally is taking a breather and comes off its 44,496 record high with the October peak at 43,332 representing a possible support level.
A rise above 44,496 would engage the 45,000 region.
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