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FTSE 100 Holds Firm but Dow and Nasdaq 100 Struggle

FTSE 100 Holds Firm but Dow and Nasdaq 100 Struggle

Chris Beauchamp, IG Chief Market Analyst

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FTSE 100, Dow Jones 30, Nasdaq 100 Daily Prices, Analysis, and Charts

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​​​FTSE 100 on a high after solid Q1 gains

​The index begins the new month and quarter close to the 8000 level, after an impressive recovery from the lows of January.​The record high from February 2023 at 8045 is now in sight, though the price has also slipped below the 7976 high from March last year.

​Short-term support could be found around 7885, while a deeper pullback targets 7763.

FTSE 100 Daily Chart

​Dow shies away from 40,000

​Monday’s session saw the Dow pull back from another record high, as 40,000 continues to elude the index for the time being.​Potential horizontal support at the previous high of 39,287 may now be tested, while below this is rising trendline support from early January.

​​Psychological resistance at 40,000 continues to be the main target for the index in any upward move.

DowJones Daily Chart

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​Nasdaq 100 drifts sideways

​The sideways price action continues here, as the index fell back from Monday’s high even as buyers have appeared to forestall any downside.​The index remains close to the recent record high at 18,466, maintaining the overall uptrend, even if upward progress has been lacking over the past two weeks.

​Trendline support from early January remains in place, while below this is the March low at 17,805.

Nasdaq 100 Daily Chart

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