FTSE 100, DAX 40 and Nasdaq 100 trade close to late November highs
FTSE 100, DAX 40 and Nasdaq 100 trade close to late November highs as traders return to work following US Thanksgiving holiday.
FTSE 100 continues to sideways trades
The FTSE 100 continues to range trade below its 8319 November high but above the 55-day simple moving average (SMA) at 8231.
Resistance above the 8319 November peak can be spotted between the 8326 - 8372 mid-September, early and late October highs. This area is expected to once again cap, though, if reached at all this year.
Good potential support below the 55-day SMA at 8231 sits between the September to early October lows at 8196 - 8153.
Dax 40 trades within a whisker of its all-time high
The German DAX 40’s break through its October to November downtrend line at 19,428 has taken it to its 19,681 November peak, to marginally below its 19,683 October record high. If overcome, the 20,000 region would be back in the picture.
Potential slips may find support around the 19,566 - 19,547 6 to 11 November highs.
Nasdaq 100 remains side-lined after Thanksgiving holiday
The Nasdaq 100 continues to trade in low volatility following the United States’s (US) Thanksgiving holiday with the late November high at 21,003 acting as a potential upside target but also as resistance. If bettered, the November record high at 21,233 would be in view.
Minor support can be seen around the 19 to 20 November highs at 20,744 - 20,753. If slipped through, the August to November uptrend line at 20,655 may be revisited but should offer support.
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