The FTSE 100 concluded the month positively, reaching 7,383 before bouncing back. The 55-day SMA at 7,494 acted as a barrier, persisting on Friday. Once surpassed, focus turns to the 17 November high at 7,516 and the 7,535 November high. Minor support lies at the 21 November low of 7,446.
In the DAX 40, the surge persists amid weaker-than-expected eurozone inflation. The July peak at 16,532 is within reach, with minor resistance at the 16,421 31 July low. Support rests at Friday’s intraday low at 16,236 and Thursday’s 16,165 low. More substantial support spans from the August to September highs at 16,044 to 15,992.
The S&P 500, experiencing its best November since 1980, displays a slowed rally. Trading at four-month highs, the Fed’s preferred PCE inflation gauge in October met expectations at 3% year-on-year. November, the strongest since 1980, saw a peak at 4,587, followed by the July peak at 4,607. This week’s lows at 4,539 to 4,537 sustain the short-term uptrend, with potential support at the 4,516 mid-September high.
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Conclusion
In conclusion, staying abreast of FTSE 100, DAX 40, and S&P 500 trends empowers traders. 4xPip provides essential insights and tools for successful trading.
