Article by IG Chief Market Analyst Chris Beauchamp
Dow Jones, Nasdaq 100, Nikkei 225 Evaluation and Charts
Dow regular round 34,000
The index noticed its big rally stall on Monday, maybe unsurprisingly given the positive aspects made final week and the dearth of information in the course of the session. The value finds itself above the 50- and 200-day easy transferring averages (SMA), and sits proper on the highs from early October. Trendline resistance from the July peak is the subsequent space to observe, together with the 100-day SMA.
A reversal under the 200-day SMA may point out some short-term consolidation.
Dow Jones Every day Chart
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Nasdaq 100 sits under trendline resistance
The value has returned to the higher sure of the present descending channel, after its finest week since January.Within the short-term, the worth will goal the October highs at 15,330, after which on in direction of 15,540, the highs of late August and early September.
An in depth again under 14,920 would deliver a bearish view into play as soon as once more.
Nasdaq 100 Every day Chart
Nikkei 225 pulls again in direction of 100-day MA
Like different indices, the Nikkei loved a formidable rally final week, transferring increased off the 30,500 zone. Additional upside now targets trendline resistance from the June excessive, which can come into play close to 33,000. Past this, the September highs at 33,500 are the subsequent goal.
Sellers will want a transfer again under 32,000 to counsel a extra severe pullback has developed, which might then goal the 200-day SMA and the October lows round 30,500.
Nikkei 225 Every day Chart
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