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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

FTSE 100, DAX 40 and CAC 40 slightly under pressure​

​​​FTSE 100, DAX 40 and CAC 40 begin the day slightly lower as US markets remain shut for Thanksgiving holiday.​​

Indices Source: Adobe images

​​​FTSE 100 range trades

​The FTSE 100 continues to sideways trade below this week’s 8,319 high but remains above the 55-day simple moving average (SMA) at 8,231.

​Resistance above Monday’s 8,319 intraday high remains to be seen between the 8,326-to-8,372 mid-September, early and late October highs. This zone is expected to once again cap, if reached.

​Good potential support below the 55-day SMA at 8,231 lies between the September to early October lows at 8,196-to-8,153.

FTSE 100 chart Source: IT-Finance.com
FTSE 100 chart Source: IT-Finance.com

​DAX 40 slips

​The German DAX 40 is trying to break through its October-to-November downtrend line at 19,438 and overcome Monday’s 19,469 high. If successful, the 6 to 11 November highs at 19,546-to-19,566 may be reached next.

​Support below Friday’s intraday low at 19,351 can be seen along the 55-day SMA at 19,226 and at Wednesday’s 19,144 low.

Dax 40 chart Source: IT-Finance.com
Dax 40 chart Source: IT-Finance.com

​CAC 40 hovers above critical support

​The French CAC 40 hovers above this week’s 7,091 low which itself wasn’t made far off its August trough at 7,028. Minor support above both levels can be spotted between the 13 to 21 November lows at 7,158-to-7,131.

​A rise above Thursday’s 7,207 high would put the November downtrend line at 7,262 on the map. While Monday’s high at 7,338 caps, though, the medium-term downtrend remains intact.

CAC 40 chart Source: IT-Finance.com
CAC 40 chart Source: IT-Finance.com

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

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