FTSE 100 looks bid as NASDAQ 100 struggles
FTSE 100 looks bid as NASDAQ 100 struggles to make much headway in relatively low volume trading.
FTSE 100 remains bid
The FTSE 100's recovery from its November and December 7,995 low has taken the UK blue chip index above the 55- and 200-day simple moving averages (SMA) at 8,206-to-8,214 towards the December-to-January resistance line at 8,300 and the 6 November high at 8,304.
The two moving averages should now act as support. Further minor support is seen around the 27 December high at 8,159 which was made within the 8,183-to-8,196 late September and early October lows.
NASDAQ 100 looking shaky
The NASDAQ 100's recent decline has taken it to 20,769, close to its December 20,725 low, before levelling out above its 55-day SMA at 20,948. This may act as short-term support.
A rise above Thursday's 21,275 is needed for a retest of the 21,233 November peak.
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