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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

​Nikkei 225, FTSE 100 and DAX 40 begin week on a positive note​

​​​Nikkei 225, FTSE 100 and DAX 40 begin week on a positive note​ amid low volume trading as US traders are absent due to Veterans Day.​

Trading charts Source: Adobe images

​​​Nikkei 225 range bound

​The Nikkei 225 continues to trade below last week’s 40,168 low while remaining above Friday’s 38,944 low amid quiet trading as several countries such as the US are shut for veterans Day.

​A rise above the 40,168 early November high would have the 40,286 October peak in its sights whereas a fall through 38,944 the August-to-November uptrend line, 200- and 55-day simple moving averages (SMA) at 38,640-to-38,432.

Nikkei 225 chart Source: IT-Finance.com
Nikkei 225 chart Source: IT-Finance.com

​FTSE 100 bounces off support

​The FTSE 100's Trump-induced rally to Wednesday’s 8,304 high on the back of rallying US stock indices has been followed by a drop to 8,061 on Friday, amid a lack of any new China stimulus developments meant that the FTSE 100 was under pressure as heavyweight mining stocks shed ground after the National Policy Committee failed to unveil anything of note.

​Monday morning is off to a more positive start with the index once again recovering from its 8,070-to-7,056 support zone which consists of the 25 July and late October lows. Investors should not read too much into the current bounce, though, as trading volumes are light with heavyweights like the US shut for Veterans Day.

​Resistance can be spotted between the September and early October lows at 8,153-to-8,196 and support at 8,070-to-8,056. A slip through this area would most likely engage the psychological 8,000 mark as well as the August low at 7,914.

FTSE 100 chart Source: IT-Finance.com
FTSE 100 chart Source: IT-Finance.com

​DAX 40 looks short-term bid

​The DAX 40 index begins the week on a positive note by rising towards Friday’s 19,453 high, a move above which would put the late September high at 19,492 and last week’s high at 19,566 on the cards.

​While the August-to-November uptrend line at 19,088 underpins, upside pressure should be maintained. Only failure at the early October 18,909 low could point towards a medium-term top being formed.

DAX 40 chart Source: IT-Finance.com
DAX 40 chart Source: IT-Finance.com

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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