FTSE 100 rallies as NASDAQ 100, S&P 500 expected to open higher amid Trump victory
FTSE 100 rallies as NASDAQ 100, S&P 500 expected to open higher amid Trump US presidential election victory.
FTSE 100 rallies amid bullish US equity markets
The FTSE 100's recovery from last week’s low at 8,070 has taken it to the October-to-November downtrend line at 8,258 with it and the 55-day simple moving average (SMA) at 8,273 thwarting the upside at present. If overcome, however, the late October high at 8,326 will be next in line.
Minor support is seen at the 1 November high at 8,203.
Only a bearish reversal to below Monday’s intraday low at 8,161 would reinstate the previous downtrend breakout of the previous sideway trading range.
NASDAQ 100 rallies strongly
The NASDAQ 100's swift bullish reversal off last week’s three-week low at 19,877 has taken it close to its late October peak at 20,652. If exceeded, the July all-time high at 20,760 would be next in line.
Minor support can be found around the 20,499 mid-October high and the 20,316 late September peak.
S&P 500 trades in all-time highs
The S&P 500 has strongly rallied from Monday’s low at 5,696 and is now trading in new record highs above its 5,882 mid-October peak. The psychological 6,000 region is next in line.
Minor support below Monday’s 5,840 low can be spotted at the late September 5,773 high.
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