Outlook on FTSE 100, DAX 40 and S&P 500 as US CPI comes in slightly higher-than-expected.
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The DAX 40 rallied into its major 15,455 to 15,561 resistance area, made up of the July to mid-September lows, and even briefly rose slightly above it on Thursday to 15,575 before heading back down again on the second straight monthly upward surprise in US inflation.A drop back towards last Friday’s high at 15,296 may now ensue. Further down lies minor support at last Tuesday’s 15,259 high.
The S&P 500 has re-entered its 4,328 to 4,378 resistance area, made up of the late June to August lows and late September high, having briefly overcome it on Wednesday and Thursday by rising to 4,398 before coming off again as US CPI inflation came in slightly higher-than-expected at 3.7%. The index did find support around the lower end of the previous resistance area at 4,325, though. Were this level to give way, the early June high at 4,299 could be revisited.
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