FTSE 100, DAX 40 under pressure while Nasdaq 100 probes key support
FTSE 100, DAX 40 under pressure while Nasdaq 100 probes key support following Friday’s stronger-than-expected US non-farm payrolls jobs report.
FTSE 100 under pressure
The FTSE 100's slip from its three-week high at 8,327 has taken the index to its 200-day simple moving average (SMA) at 8,222 which offers support with the 55-day SMA at 8,201 and the 7 January low at 8,186. A fall through this level would push the psychological 8,000 region back on the cards.
Minor resistance can be seen around the 8,267 early January high.
The current January high at 8,327 would need to be exceeded for the October and December highs at 8,389-to-8,397 to be in focus.
DAX 40 continues to slide
The German DAX 40 index's tumble through Wednesday's 20,242 low has so far taken it to Monday's intraday low at 20,139. If slipped through, the late December high at 20,0024 and the psychological 20,000 region may be back in sight.
Minor resistance sits at the 10 December 20,259 low.
Nasdaq 100 probes key technical support
The Nasdaq 100 probes support made up of the December and current January lows at 20,769-to-20,705. If dropped through on a daily chart closing basis, the mid-November low at 20,306 would be next in line.
Immediate downside pressure should retain the upper hand while the index remains below the 55-day SMA at 21,042 and, more importantly, Friday's 21,200 high.
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