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Thanksgiving Holiday USA | drift higher towards 7520 | 7490 resistance | 7450 7420 support

#1 · 23rd November 2023, 10:02 am

Technical analysis for FTSE 100 for 23rd November 2023

Asian shares were flat on Thursday with markets holding onto their gains for the week as confidence grows that interest rates globally will head lower next year, while oil prices fell on the prospects for smaller-than-expected output cuts by OPEC+.

Shares in Asia struggled for traction and currencies were muted in holiday-thinned trading on Thursday after US stocks ticked higher and Treasuries fell overnight on data showing US consumers expect inflation to persist.

Equities slid in Australia, while those in Hong Kong and China fluctuated and South Korean shares gave up earlier gains. Japanese markets are closed for a holiday. Oil dropped for a second day after the surprise delay to the upcoming OPEC+ meeting, denting hopes that the cartel will intervene to tighten supplies.

Trading worldwide was expected to be quiet due to the Thanksgiving holiday in the U.S.