FTSE 100, DAX 40 range trade while S&P 500 remains under pressure
FTSE 100, DAX 40 range trade while S&P 500 remains under pressure amid renewed US tariff threat.
FTSE 100 range trades
The FTSE 100 range trades in relatively low volatility above its six-week low at 8,464. Below it lies the 8,427 late January low. Were it to be fallen through, 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 Thursday's 8,581 high can be spotted at the 8,614 late February low.
DAX 40 sideways trades
The German DAX 40 index dropped to 22,239 on Tuesday and has been sideways trading above that level since then while Tuesday's high at 22,837 capped.
Below 22,239 lies the 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 reached.
Minor resistance above 22,837 can be seen at the February peak at 22,937.
S&P 500 remains under pressure amid renewed US tariff threat
The S&P 500 hit a new six-month low, this time at 5,504, amid renewed US tariff threats but on Friday tries to recover. While the 5,504 low underpins, the 5,674-to-5,696 October-to-November 2024 lows may be retested but are likely to act as resistance.
Were this week's low at 5,504 to give way on a daily chart closing basis, a more significant decline towards the August low at 5,091 may unfold.
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