FTSE 100, DAX 40, S&P 500 Analysis and Charts
FTSE 100 continues to recover from Tuesday’s low
The FTSE 100 formed a bullish hammer formation on Tuesday which was confirmed by Thursday’s daily chart close above Tuesday’s high at 8,268. A gradual advance towards Monday’s high at 8,364 remains at hand, provided that US Non-Farm Payrolls don’t throw a spanner in the works and that the April-to-June support line at 8,218 underpins.
FTSE 100 Daily Chart
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DAX 40 capped by downtrend line
The DAX 40’s rally off this week’s 18,361 low took it to its May-to-June downtrend line at 18,786 before being rejected by it. A fall through Thursday’s low at 18,599 would have short-term negative implications with this week’s low and the 55-day simple moving average (SMA) at 18,361 to 18,344 possibly being back in play. Resistance above…
