Markets Eye US CPI: FTSE 100, DAX 40, Nasdaq 100

By Daniel M.

April 11, 2024   •   Fact checked by Dumb Little Man

FTSE 100 Targets 8,000 Threshold

Source: DailyFX

The FTSE 100 made an attempt to breach the 8,000 mark on Thursday but retreated to 7,856, only to rally again with the 8,000 level now within reach. The early April peak stands at 8,017, setting the next target.

Support is identified along the March-April upward trend at 7,900 and the recent low at 7,856. A break below Friday’s low at 7,856 could revisit the range between December and mid-March peaks of 7,786 to 7,769.

DAX 40 Seeks to Recover

Source: DailyFx

After dipping to 18,059 on Tuesday, the DAX 40 is on a recovery path, awaiting the US March CPI data. To reclaim bullish momentum, it must surpass Monday’s peak at 18,329.

Supportive levels are found at Friday’s high of 18,223 and the April descending trend line at 18,252, with Thursday’s peak at 18,429 lying above.

The floor is established at the lows of last week and Tuesday, between 18,085 and 18,059, with the mid-March high at 18,044 expected to provide support.

Nasdaq 100 Aims for Recovery Continuation

Source: DailyFx

The Nasdaq 100’s rebound from last Friday’s fortnightly nadir of 17,866 continues, supported by Tuesday’s low at 17,969. Below this, the 55-day SMA at 17,922 and last week’s low at 17,866 form a support zone.

A sustained move and close above the recent highs at 18,211 to 18,213 are necessary to revisit the early April peaks between 18,368 and 18,390.

Daniel M.

Daniel Moore is a seasoned trading analyst with over 20 years of experience navigating the ever-evolving financial landscape. Renowned for his unconventional yet effective approach, Daniel utilizes a blend of technical and fundamental analysis to identify hidden gems and craft winning trade strategies. He is a master at demystifying complex market data and translating it into actionable insights for traders of all experience levels.

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