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FTSE 100, CAC 40 and S&P 500 grapple with resistance
FTSE 100, CAC 40 and S&P 500 grapple with resistance, having risen these past few days amid US-China trade war de-escalation hopes.
FTSE 100 grinds higher still
The FTSE 100's continues to grind higher whilst remaining above its 200-day simple moving average (SMA) at 8347 but struggling with the 8464 to 8470 mid-March low and this week's high. This area still acts as resistance ahead of the 55-daySMA at 8542.
The 200-day SMA at 8347 and 17 April high at 8328 are expected to continue to offer at least short-term support.
FTSE 100 daily chart
CAC 40 capped by 200-day simple moving average
The French CAC 40's steady advance has taken it close to the 200-day SMA at 7577 which so far has been capping the upside, though. In case of it being overcome on a daily chart closing basis, the February low at 7702 may be revisited.
CAC 40 daily chart
S&P 500 probes key resistance
The S&P 500 probes resistance around the 5504 March low amid hopes of US-China trade war de-escalation. Were a daily chart close above this level to be made, the 21 March low at 5600 may be in focus ahead of the 2 April high at 5728.
Minor support below the 9 April 5493 high and the 14 April 5463 high can be seen at Thursday's 5328 low.
Minor support remains to be seen at the 9 April 7510 high and at Thursday's 7406 low. Further down lies support between last week's Monday to Thursday highs at 7345 to 7307.
S&P 500 daily chart
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