FTSE 100 tests uptrend line, DAX 40 rallies as CAC 40 flat amid shut US markets
FTSE 100 tests uptrend line, DAX 40 rallies as CAC 40 flat amid shut US markets due to Presidents’ Day holiday.
FTSE 100 probes uptrend line
The FTSE 100's slide from last week's 8,836 record high has taken it to the January-to-February uptrend line which is currently being probed. Slightly further down lies the late January high at 8,693 which may also offer support during what is likely to turn out to be a quiet day. American market participants will have the day off due to the US Presidents' Day holiday.
Resistance can be spotted at the 6 February 8,770 high, above which sits last week's 8,836 all-time high.
DAX 40 stays close top record high
The DAX 40 index remains close to its record high at 22,628, made last Thursday.
Above the current record high at 22,628 lies the 23,000 region.
Potential slips may find support between last Wednesday's high and Thursday's low at 22,349-to-22,308.
CAC 40 surges ahead
The French CAC 40 continues to play catch up with its European peers and is seen steaming ahead towards key resistance at its April-to-May 2024 peaks at 8,260-to-8,263. There the index may at least temporarily pause its strong ascent.
Potential slips may find support around the June 2024 high at 8,074.
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