FTSE 100 remains stable despite Middle East escalation but Nasdaq 100, S&P 500 drop
FTSE 100 remains stable despite Iran firing over 100 ballistic missiles on Israel but Nasdaq 100, S&P 500 drop amid escalation fears.
FTSE 100 range bound despite Middle East escalation
The FTSE 100 continues to sideways trade above its 55-day simple moving average (SMA) at 8,258, which acts as minor support, but below last week’s high at 8,336 despite heightened tensions in the Middle East. Above 8,336 sits the September high at 8,372.
Support below Tuesday’s low at 8,224 can be found at the 20 September 8,196 low. A drop through the 8,196 level would put the early September low at 8,153 back on the map.
Nasdaq 100 falls amid escalating Middle East conflict
The Nasdaq 100 is seen coming off its two-month high at 20,316 amid an escalation between Iran and Israel with the index so far slipping to 19,611. If fallen through, the 55-day SMA at 19,290 and the August-to-October tentative uptrend line at 19,100 may be reached.
Minor resistance can now be found around the psychological 20,000 mark.
S&P 500 comes off its all-time high
The S&P 500 has come off its September record high at 5,773 and practically revisited its 5,669 July peak amid Iran ballistic missile strikes on Israel. Further potential support can be found around the 5,655 early September high.
Minor resistance can be spotted at the 26 September low at 5,721.
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