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An unfortunate escalation in geopolitical unrest combined with the Malaysian Airlines air disaster has seen indices pull back from recent recovery highs and the week-end is seeing risk aversion dominate on account of the uncertainty that lies ahead. Weakness not been as much as expected with investors confident that problems are isolated and/or will be contained and a market reversal avoided.
The UK’s UK 100 has broken down from a 5-day rising channel at 6720 which suggests it could merely have been a bearish flag pattern and so more downside could be on the way. We are below 6700, but the rising trend from February has yet to be tested again as was the case last week with the revisit of 6650.
Germany’s DAX is back testing major rising lows at 9685 which will need to be watched closely for any signs of genuine reversal. Even if this does occur, the index has the benefit of the 200-day moving average lying just below potentially offering some support.
The US Dow Jones has come back from yet more fresh all-time highs, and off its worst levels it looks to have added another bounce off its major trendline (16900) of rising support from February. US results helping out with more positive than negative surprises, as well as continued M&A deal flow.
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Solid Green line
Possible support
Solid Red line
Possible resistance
| Share | 1wk | 1m | 3m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | 1.0 | -0.4 | 1.7 | 2.5 | 19.7 | 15.3 | 30.6 | 53.5 |
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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Solid Green line
Possible support
Solid Red line
Possible resistance
| Share | 1wk | 1m | 3m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | 1.0 | -1.7 | 3.7 | 18.2 | 48.3 | 35.1 | 61.5 | 95.9 |
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
| Share | 1wk | 1m | 3m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | 0.4 | 1.0 | 3.5 | 9.7 | 32.6 | 36.0 | 68.1 | 94.2 |
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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