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The major European indices are closing with mixed results. The gains and losses are showing:
- German DAX, +33.7 points or 0.26%
- France’s CAC, +30.09 points or +0.47%
- UK’s FTSE 100 -12.25 points or -0.16%
- Spain’s Ibex -13.10 points or -0.16%
- Italy’s FTSE MIB +68 points or 0.31%
France’s CAC falls to the 100 day MA
Looking at France’s CAC daily chart, the price was weaker stalled against its 200 day moving average (green line in the chart above). Today, the swing low reached 6319.70. That got within 13 points of the 100 day moving average at 6306.03. Early buyers leaned against the key technical barometer.
For the UK FTSE 100, the low price today reached 7410.40. The 100 day moving average comes in at 7394.51. Early buyers leaned against that level. Note that earlier this month, the price also tested the 100 day moving average and found willing buyers. Just below the 100 day moving averages eight 200 day moving average at 7386.09. The this is a move below those moving averages would tilt the buys more to the downside. Conversely stay above and the buyers have the advantage.
UK FTSE 100 trades above and below the 100/200D MAs