In the ever-shifting landscape of global markets, the FTSE 100, DAX 40, and S&P 500 have demonstrated remarkable resilience, showcasing positive momentum despite inflationary challenges. As inflation eases across the Eurozone, these major indices are making strategic moves. Let’s delve into the individual dynamics of each index.
FTSE 100: Positive Momentum Amidst Inflation Headwinds:
The FTSE 100 concluded the month on a positive note, rebounding from a dip to 7,383, fueled by the weakening inflation in the Eurozone. The 55-day simple moving average (SMA) at 7,494 played a crucial role, acting as a resistance level on Friday morning. Once breached, attention turns to the November high at 7,516, with further potential at 7,535. Minor support resides at the 21 November low at 7,446. This positive momentum in the FTSE 100 mirrors its resilience in the face of inflationary pressures, providing traders with key levels to monitor.
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DAX 40: Surging Ahead on Eurozone Inflation Trends:
The DAX 40 continues its forward surge, capitalizing on weaker-than-expected Eurozone inflation. With the July peak at 16,532 within sight, the index maintains momentum. Resistance may present itself at the 16,421 31 July low, while support lies at the 16,165 low from Thursday. More substantial support zones are identified between the August and September highs at 16,044 to 15,992. The DAX 40’s trajectory underscores its resilience, leveraging changing inflation dynamics to drive market gains.
S&P 500: A November to Remember:
The S&P 500 has made headlines with its robust performance, marking the best November since 1980. Despite a loss in upside momentum, the index continues to trade at four-month highs. The Federal Reserve’s preferred PCE inflation gauge, registering as expected at 3% year-on-year in October, has contributed to this success. November not only stands out as the best-performing month for the S&P 500 this year but also holds the title for the strongest November in over four decades. Key resistance points at the November peak of 4,587 and the July peak of 4,607 define the current landscape, with support at 4,539 to 4,537 reinforcing the short-term uptrend.
Summary:
In a landscape influenced by inflation dynamics, the FTSE 100, DAX 40, and S&P 500 have exhibited resilience and positive momentum. The FTSE 100 recovered from a dip, with key levels at 7,494 and 7,516. The DAX 40 capitalizes on weaker Eurozone inflation, eyeing the July peak at 16,532. The S&P 500, celebrating its best November since 1980, faces resistance at 4,587 and 4,607, supported by its strong November performance.
