FTSE 100 at Two Month Lows on US-China Worries

FTSE 100 underperforms its European peers for one more day giving up 2.05 percent at 7,255 mirroring Asian Indices, amid US-China trade war escalation. The USDCNH rose to 6.9865 earlier today the highest level since 2017.

InvestingCube's S&R Levels

NAS100

NAS100 (11483.3)

Not in Buy Zone

STOP

BUY

TP1

11569

TP2

11931

On the technical side FTSE 100 today breached the 100 day moving average and as of writing the index trading also below the 150 day moving average at 7,264. The short term outlook has turned bearish and an attempt test the first support at 7,140 June 4th low looks possible, while a break below will open the way for a test of 7,090. Long positions will face resistance at 7,407 the daily high while more offers will emerge at 7,540 the 20 day moving average.

European indices also trading sharply lower, with DAX 30 giving up 1.54% to 11,690 while the CAC 40 in Paris trading 1.98% lower at 5,253.

In Wall Street, the Dow Jones futures trading 1.27% lower at 26,113, the S&P 500 futures are 1.34% lower at 2,892 while the Nasdaq futures are 1.72% lower at 7,570 signaling a negative start for equities in the other side of the Atlantic.Don’t miss a beat! Follow us on Twitter.