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FTSE 100, Dax and Nasdaq 100 Move Cautiously Higher​​​​

FTSE 100, Dax and Nasdaq 100 Move Cautiously Higher​​​​

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Article by IG Chief Market Analyst Chris Beauchamp

FTSE 100, DAX 40, Nasdaq 100, Prices, Analysis and Charts

​​​FTSE 100 claws its way back from Thursday lows

​Thursday witnessed an impressive recovery from the lows of the session for the index. ​Having slumped briefly to a three-week low the price has now rebounded. A follow-through back above 7600 would add to the bullish view and suggest that a recovery is in play once more. This then opens the way to 7700 and then to the May highs around 7800.

​Sellers will need a drop back below 7500 and then below 7400 to provide a resurgent bearish view.

FTSE 100 Daily Price Chart​

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Dax 40 stabilises above 100-day MA

​The Dax failed to stage much of a rebound on Thursday, but it did hold above the 100-day SMA.​If the price can recover 16,000 and then the 50-day SMA then a new move higher towards 16,500 may result.

​A bearish view is contained unless and until the price closes below 15,700 support, and then could push on to 15,500 or down to the 200-day SMA.

​DAX 40 Daily Price Chart

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Nasdaq 100 pushes higher

​Earnings from Apple and Amazon failed to provide much of a lift, though the index evaded another big down day on Thursday. Early trading today has seen the index make some gains early on Friday.​In the short term, bulls will need to see a move back above 15,500 to put the index back on an upward footing to then target the 15,760 and 15,940 highs.

​Further declines below trendline support will maintain the bearish view and open the way to 14,920 and 14,690.

Nasdaq 100 Daily Price Chart

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