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FTSE 100, DAX 40, S&P 500 Analysis and Charts

​​​FTSE 100 struggles to recover

​The FTSE 100, which last week fell to a six-week low at 7,403 on pared-back rate cut expectations, is having difficulties in regaining recently lost ground and so far hasn’t managed to overcome the 7,500 mark on a daily chart closing basis.

​Above Friday’s 7,523 high beckon the mid-November and early December highs at 7,535 to 7,543 but together with the 55- and 200-day simple moving averages (SMA) at 7,561 to 7,564 might prove difficult to break through.

​Minor support below Monday’s 7,476 low lies at the 5 December 7,459 low ahead of last week’s 7,403 trough.

FTSE 100 Daily Chart

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Change in Longs Shorts OI
Daily 9% 8% 9%
Weekly 40% -35% 8%

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DAX 40 on track for third straight day of gains

​The DAX 40 index is in the process of breaking through its January resistance line at 16,670 with the 8 January high at 16,785 and the more significant 11 and 15 January highs at 16,792 to 16,841 representing upside targets.

​Minor support below Monday’s 16,638 low can be spotted around Wednesday’s high and the lows from a couple of weeks ago at 16,543 to 16,517.

​Further down lie the early January and last week’s low at 16,444 to 16,344.

DAX 40 Daily Chart

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S&P 500 trades in new all-time record high

​The S&P 500 last week rallied to a new all-time record high amid stronger-than-expected University of Michigan consumer sentiment which saw its highest reading since July 2021.

​The psychological 5,000 mark is thus in focus and may be reached over the coming weeks and months.

​Support sits at Monday’s 4,848 to 4,844 price gap and also at the index’s January 2022 previous record high at 4,817.

S&P 500 Daily Chart


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