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FTSE 100 makes yet another record high while DAX and S&P 500 rally is slowing down Outlook on FTSE 100, DAX and S&P 500 ahead of Thursday’s BoE monetary policy meeting. Source: Getty Images Written by: Axel Rudolph FSTA | Senior Financial Analyst, London Publication date: Wednesday 08 May 2024 13:37 FTSE 100 hits yet another record high The FTSE 100 has so far seen four straight days of gains with each making a new record high ahead of this morning’s, the fifth day in a row around the 8,350 mark. Further up beckons the 8,500 region. The tentative April-to-May uptrend line at 8,280 offers support. Source: ProRealTime DAX 40 trades in one-month high The DAX 40 has seen four straight days of gains take it to a one-month high around the 18,450 level with the April record high at 18,636 representing the next upside target. Potential slips should find good support between the 24 and 29 April highs at 18,240 and 18,238. Source: ProRealTime S&P 500 see five straight days of gains The S&P 500’s 3.5% rally from its early May low amid five consecutive days of gains has taken it to the 5,200 mark around which it may short-term lose upside momentum. A slip towards the 5,132 to 5,123 55-day simple moving average (SMA) and the late April high might be on the cards for this week. Were the recent advance to continue, though, the April record high at 5,274 would be back in the frame. Source: ProRealTime -
Gold price edges down, while WTI crude price comes under pressure and natural gas price rallies to four-month high While gold is fighting to hold on to gains and natural gas has soared to a four-month high, oil prices have slumped through the lows of last week. Source: Getty Images Written by: Chris Beauchamp | Chief Market Analyst, London Publication date: Wednesday 08 May 2024 13:22 Gold remains above recent lows The price continues to carve out a low, with buyers entering over the past week to ensure that, for now, the $2290 level holds. If this marks the low for the time being then we could see a resumption of the move higher, with the higher low helping to reinforce the bullish medium-term view. This then targets the $2400 highs from mid-April. A close back below $2280 negates this outlook, and could see the 50-day simple moving average (SMA) tested next. Source: ProRealTime WTI pushes to two-month low Oil prices have suffered further losses in morning trading, dropping through the lows of Monday and Friday and heading to levels not seen since mid-March. Signs of a lessening of tensions in the Middle East appear to be behind the move, which has negated the nascent indications of a low that appeared over the previous two sessions. The February lows at $76 now come into view. A close back above $78 and the 100-day SMA would be needed to revive hopes that a low has formed. Source: ProRealTime Natural Gas hits four-month high The past week has seen the price, finally, make serious headway, and it now finds itself back at the late January highs. Further gains would head towards the 200-day SMA. The price might yet create a lower high, though this would need a reversal and close back below 2100 to signal some near-term weakness is at hand. Source: ProRealTime
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By CryptoSaint · Posted
AR Price on the Rise? Bullish Pattern Hints at $100 by 2024 The chart shows a potential inverted head and shoulders but faces a hurdle at $44. Read more for the full analysis! https://coinpedia.org/price-analysis/this-bullish-pattern-in-ar-price-teases-100-in-2024/ #AR #Cryptocurrency
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