Article by IG Senior Market Analyst Axel Rudolph
FTSE 100, DAX 40, Nasdaq 100 – Evaluation and Charts
FTSE 100 continues to be side-lined
The FTSE 100 continues to be vary certain beneath the 55-day easy shifting common (SMA) at 7,505. Regardless of UK client confidence rising in November a damaging bias has been seen because the begin of the day.
Whereas the UK blue chip index stays above Tuesday’s 7,446 low, it stays inside a gradual uptrend, concentrating on final Friday’s 7,516 excessive. If overcome, the present November peak at 7,535 shall be eyed forward of the 200-day easy shifting common (SMA) at 7,589.
Under Tuesday’s 7,446 low minor assist might be seen round final Thursday’s low at 7,430, and the early September and early October lows at 7,384 to 7,369.
FTSE 100 Day by day Chart
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DAX 40 continues to flirt with the 16,000 mark
The DAX 40 continues to play with the psychological 16,000 mark regardless of Germany’s financial system contracting 0.1% within the third quarter, reversing its 0.1% development within the earlier quarter, forward of at the moment’s IFO enterprise local weather index.
The August and September highs at 15,992 to 16,044 proceed to behave as a short-term resistance zone that caps.
Minor assist beneath Thursday’s excessive at 15,867 might be made out eventually Thursday’s 15,710 low. Additional down meanders the 200-day easy shifting common at 15,673.
DAX 40 Day by day Chart
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| Change in | Longs | Shorts | OI |
| Day by day | -33% | 0% | -9% |
| Weekly | -12% | 6% | 2% |
Nasdaq 100 consolidates beneath its current close to two-year excessive
The Nasdaq 100’s stiff rally off its late October low has this week briefly taken the index to 16,126, a degree final traded in January 2022, earlier than consolidating in low quantity forward of the extended Thanksgiving weekend. With US markets shut for the second half of the day, the index is anticipated to commerce in little or no quantity inside a decent vary however stays on monitor for its fourth straight week of good points.
The July excessive at 15,932 gives potential assist whereas Monday’s 16,065 excessive could cap.
An increase into year-end above 16,126 would put the December 2021 excessive at 16,660 on the map.
Nasdaq 100 Day by day Chart
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