FTSE 100 low volatility range bound while CAC 40, S&P 500 test minor resistance
FTSE 100 low volatility range bound while CAC 40, S&P 500 test minor resistance amid hopes of US-China trade war de-escalation.
FTSE 100 range trades in low volatility
The FTSE 100's continues to range trade in low volatility whilst remaining above its 200-day simple moving average (SMA) at 8,350. The 8,464-to-8,470 mid-March low and last week's high continue to act as resistance ahead of the 55-day SMA at 8,531.
The 200-day SMA at 8,350 and 17 April high at 8,328 are expected to continue to offer at least short-term support.
FTSE 100 chart
CAC 40 between rock and a hard place
The French French CAC 40 index continue to oscillate around the 200-day SMA at 7,577 which so far has been capping the upside, though. In case of it being overcome on a daily chart closing basis and Monday's high at 7,616 being exceeded, the February low at 7,702 may be revisited.
Minor support remains to be seen at the 9 April 7,510 high and at Thursday's 7,406 low. Further down lies support between last week's Monday-to-Thursday highs at 7,345-to-7,307.
CAC 40 chart
S&P 500 pushes into minor resistance
The S&P 500 continues to trade marginally above the 5,504 March low and nears Monday's 5,553 high 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 5,600 may be reached next ahead of the 2 April high at 5,728.
Minor support below the 9 April 5,493 high and the 14 April 5,463 high can be found at Thursday's 5,328 low.
S&P 500 chart
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