FTSE 100, CAC 40 keel over on Trump tariff threat but Nasdaq 100 remains bid
FTSE 100, CAC 40 keel over on Trump tariff threat but Nasdaq 100 remains bid close to its record high.
FTSE 100 dips
The FTSE 100's slide from last week's 8,836 record high has taken it through the January-to-February uptrend line at 8,750 with the mid-February low at 8,702 and the late January high at 8,693 being targeted.
Resistance above the breached January-to-February uptrend line, now because of inverse polarity a resistance line, at 8,750 can be found at the 6 February 8,770 high and last week's 8,836 all-time high.
CAC 40 runs out of steam below key resistance
The CAC 40 is seen running out of steam at Wednesday's 8,225 high which was made not far below key resistance at 8,260-to-8,263, the April-to-May 2024 peaks.
Potential further slips may find support around the June 2024 high at 8,074.
Nasdaq 100 on track to hit yet another record high
The Nasdaq 100 continues to trade close to this week's record high at 22,240, a rise above which would target the 22,500 region.
Minor support is seen around the 22,132 mid-December high and at Tuesday's 22,024 low. While it underpins, the short-term uptrend will be deemed to be intact.
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