FTSE 100, DAX 40, CAC 40, Analysis and Charts

​​​FTSE 100 tries to regain Friday’s losses

​The FTSE 100 is once more trying to regain some of last week’s losses when its European peers were dragging it down amid their election turmoil sell-off. The UK blue chip index is once more trading back above its 55-day simple moving average (SMA) at 8,173 with Thursday’s high at 8,220 being back in sight.

​A fall through Friday’s low at 8,112 would put the 8,095 to 8,017 early and mid-April highs and late May low on the map.

​For the bulls to regain control, a rise above Tuesday’s high at 8,266 would need to occur.

FTSE 100 Daily Chart​

​DAX 40 hovers above Friday’s six-week low

​The DAX 40 is trying to hold above Friday’s sharp-sell off low at 17,950 which was triggered by a move out of European equities following a significant shift to the right in European elections and the announcement of French snap legislative elections. ​Friday’s low was close to the 61.8% Fibonacci retracement of the April-to-May advance at 17,988 at 17,950, above which the index is trying to remain on Monday. ​If fallen through, the mid-March low at 17,865 might be eyed next.

​Resistance sits at the 50% retracement at 18,170, followed by the late April high at 18,240.

DAX 40 Daily Chart

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​CAC 40 tries to recover from its 4 ½ month low

​Last week the French CAC 40 index dropped by over 5% in a week, to 7,464 amid huge outflows in the wake of its upcoming snap legislative elections, announced last Sunday by President Emmanuel Macro due to far-right parties receiving more votes than his party in the European elections.

​The 200-day simple moving average (SMA) at 7,619 is short-term being targeted but is likely to act as resistance. Above it lies the 7,704 late January high.

​Were a fall through 7,464 to unfold, the December peak at 7,653 may offer support. If not, a drop toward the 7,281 January trough may ensue.

CAC 40 Daily Chart