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

​​​FTSE 100 remains side-lined

​​The FTSE 100 continues to oscillate around the 55-day simple moving average (SMA) at 8,182 with Thursday’s high at 8,220 representing a possible short-term upside target.

​A fall through Tuesday’s low at 8,157 would put the current June lows at 8,115 to 8,112 on the cards. If fallen through, the 8,095 to 8,017 early and mid-April highs and late May low would probably be targeted.

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

FTSE 100 Daily Chart

​

​DAX 40 comes off 50% retracement

​The DAX 40 is finding it difficult to overcome the 50% retracement of the April-to-May advance at 18,170. Tuesday’s high, for example, was made at 18,213 before a Doji was formed. It denotes indecision with little trading volume likely to go through today as US markets are shut for the Juneteenth holiday.

​Below Tuesday’s and today’s intraday lows at 18,070 to 18,068 lies the 61.8% Fibonacci retracement of the April-to-May advance at 17,988 and the current June low at 17,950.

​Only a rise above the 18,213 high would put the 18,240 late April high and the 55-day simple moving average (SMA) at 18,328 on the map.

DAX 40 Daily Chart

​

​CAC 40 finds it hard to recover from its 4 ½ month low

​The French CAC 40 index is finding it difficult to recover from last week’s sharp 5% loss and is trading along the 200-day simple moving average (SMA) at 7,622. ​A rise above Tuesday’s high at 7,644 is needed, for the 7,704 late January high to be next in line.

​Minor support can be spotted at Tuesday’s 7,563 low, below that lies last week’s low at 7,464. ​Were a fall through 7,464 to ensue, the December peak at 7,653 may offer support. If not, a drop toward the 7,281 January trough may be in the frame.

CAC 40 Daily Chart