FTSE 100 Takes a Breather
After nearly two weeks of strong gains, the FTSE 100 has seen some profit-taking this week Investors are awaiting the release of the US FOMC minutes and the Jackson Hole symposium for insights into US monetary policy. The 55-day simple moving average (SMA) at 8,216 may come into play, with significant support found between the late May and early July lows at 8,138 to 8,106. Key resistance levels are seen at the early August high and this week’s peak, ranging from 8,374 to 8,404.
DAX 40 Rally Loses Momentum
The DAX 40 has rebounded sharply from its early August low of 17,021, approaching its late July high of 18,580. The index reached 18,498 on Tuesday before experiencing some profit-taking. Minor support is located at the 55-day SMA of 18,242, with further support around the July 9 low of 18,211.
S&P 500 Rally Stalls Ahead of July FOMC Minutes
The S&P 500‘s strong rally from its August 5 low of 5,091 came close to extending a 20-year-old winning streak, peaking at 5,620 on Tuesday before a slight retracement. A rise above this level could challenge the July record high of 5,669. Potential declines may find support near the early August high of 5,564.
