Nikkei 225 flat with FTSE 100, DAX 40 expected to move little as US shut
Nikkei 225 flat with FTSE 100, DAX 40 expected to move little as US shut for Labor day and hardly any data being released.
Nikkei 225 little changed
On Friday the Nikkei 225 index finally managed to trade above the 55-day simple moving average (SMA) at 38,454 and the 200-day SMA at 38,477, having been capped by the former over the past couple of weeks. The index nonetheless remains below the late July high at 39,281 as it continues to range trade.
A break below last week’s low at 37,817 would engage the previous Monday’s low at 37,163 and may lead to a retest of the 36,000 level.
As long as the 19 August low at 37,163 low holds, the near-term bullish outlook remains intact.
FTSE 100 flatlines
The FTSE 100 trades back below its early August peak at 8,404, having last week briefly made a 3-month high at 8,419.
Overall upside pressure should be maintained while the 20 August low at 8,240 holds. Below it meanders the 55-day SMA at 8,238.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Take a position on indices
Deal on the world’s major stock indices today.
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
