FTSE 100, DAX 40 and S&P 500 Consolidate as they await Further News​​​

​​Outlook on FTSE 100, DAX 40 and S&P 500 ahead of speeches by Fed Chair Jerome Powell today and tomorrow.

​Above Wednesday’s intraday high at 7,408 lies minor resistance at Tuesday’s 7,432 high and the 25 October high at 7,430.

​For the bull run to continue, Tuesday’s high at 15,194 would need to be exceeded in which case last week’s high at 15,268 would be back in focus. Further up beckon the 55-day simple moving average and the July-to-November downtrend line at 15,363 to 15,390. Slightly above this area sits major resistance between the 15,455 to 15,575 July-to-mid-September lows and the mid-October high.

​Minor support can be seen along the 55-day simple moving average at 4,352 and at Monday’s 4,348 low. Further minor support sits at the 4,337 August trough.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits.

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