FTSE 100, Dow and Nasdaq 100 look short-term bid
FTSE 100, Dow and Nasdaq 100 look short-term bid ahead of curtailed holiday week.
FTSE 100 continues to rise
The FTSE 100's recovery from last week's and its November 7,995 low is ongoing with the September low at 8,153 and the 8,183-to-8,196 late September and early October lows remaining in sight. This resistance area is likely to cap into year-end, though.
Minor support remains to be seen at the 19 November low at 8,051 and more significant support around the psychological 8,000 mark.
Dow Jones Industrial Average recovery is ongoing
The Dow remains below its December downtrend line at 43,075 despite bouncing off Friday's 42,029 six-week low.
The downtrend line at 43,075 and Friday's high at 43,195 need to be exceeded, for the next higher 43,332 October peak to be reached. Together with the 55-day simple moving average (SMA) at 43,441 it is likely to act as resistance.
Minor support below Thursday's 42,750 high can be spotted at Monday's 42,472 low.
Nasdaq 100 on track for third day of straight gains
The Nasdaq 100 is on track for its third straight day of gains and has the 9 December high at 21,664 in its sights.
If overcome, the 11 December high at 21,784 may also be reached this week.
Potential slips may find support around Thursday's 21,403 high and at Monday's 21,206 low.
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