DAX 40 rises on hopes of stimulus package while Nasdaq 100 recovers, FTSE 100 remains under pressure
DAX 40 regains lost ground amid hopes of €500 billion infrastructure fund while Nasdaq 100 recovers, FTSE 100 remains under pressure.
FTSE 100 remains short term under pressure
The FTSE 100 has been less volatile than other stock indices in the course of this week and thus remains close to Monday's 8,909 record high.
Short term the UK blue chip index seems to be heading back down towards Tuesday's low at 8,745. Below it lies the December-to-March uptrend line at 8,718.
Resistance above the February 8,836 peak sits at Tuesday's 8,871 high.
A rise above 8,909 would likely engage the psychological 9,000 region.
The DAX 40 regains lost ground amid hopes of major stimulus package
The German DAX 40 index recovered from Tuesday’s intraday near 4% 22,307 low on US tariffs news and is gunning towards its 22,937 mid-February high amid hopes of a German €500 billion infrastructure fund and amendment to the country's borrowing rules to boost defence spending and stimulate economic growth.
Above 22,937 lies Tuesday's 23,054 high ahead of Monday's 23,307 all-time high.
Minor support is seen at the late February 22,567 high ahead of the 2025 uptrend line at 22,370.
Nasdaq 100 tries to recover from Tuesday’s sharp sell-off
Even though the Nasdaq 100 dropped all the way to 20,028 on Tuesday, it once again managed to close within its key 20,769-to-20,533 support zone. It sits marginally above the 200-day simple moving average (SMA) at 20,314 which may offer support this week, together with Monday's low at 20,268.
A rise above Tuesday's 20,684 high is needed for Monday's high at 21,071 to be revisited.
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