FTSE 100 slips through uptrend line, CAC 40 rally stalls as S&P 500 trades in four-month lows
FTSE 100 slips through uptrend line, CAC 40 rally stalls as S&P 500 trades in four-month lows amid President Trump driven tariff uncertainty.
FTSE 100 slips through uptrend line
The FTSE 100 has slipped through its December-to-March uptrend line at 8,734 and is fast approaching its 8,614 late February low.
Were this level to be slipped through, the 24 January high at 8,587 would be next in line, ahead of the early February low at 8,509.
Immediate resistance sits at last Friday's 8,679 low ahead of the 8,693 late January high and the December-to-March uptrend line at 8,734.
CAC 40 rally runs out of steam
The French CAC 40 is seen running out of steam, having on Thursday briefly made a new record high at 8,299 marginally above its April and May 2024 then all-time highs.
Negative divergence on the daily chart points to at least some short term consolidation below this key resistance area being witnessed.
The steep 2025 uptrend line at 8,058 may offer support ahead of the psychological 8,000 mark.
Immediate resistance can be spotted at the mid-February 8,225 high.
S&P 500 trades in near five-month lows
The S&P 500 remains close to its near five-month low made on Thursday at 5,711, marginally above the 5,696-to-5,674 October-to-November 2024 lows which underpin for now.
If giving way, the door would be open for a more significant decline to take the US index to its July-to-September 2024 highs at 5,69-to-5,655.
Resistance can be spotted between the 7,772-to-5,798 December-to-January lows.
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