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There is some red across the markets this morning after the US markets stuttered into the close last night prompting profit taking and risk reducing across Europe. Hopes emerged overnight of peace talks between the Russians and Ukrainians, following Russia’s effort in joining the humanitarian aid effort in eastern Ukraine. Both the UK 100 and the German DAX have started the trading day in the red after yesterdays rally.
After yesterday’s 1% rally on the the UK’s UK 100 the Index this morning is trading slightly negative. Resistance was seen yesterday around 6650, a level that has proved difficult a number of times over the last few trading sessions. A break above this level could seen a move up towards last weeks highs of 6715. On the flip side, a failure to push through this level could see the UK Index sell off towards Fridays lows of 6527.
Germany’s DAX was the standout performer yesterday rallying almost 2% after falling over 1000 points in just one month. A bit of profit taking has halted the rise and we have subsequently see resistance around 9185. A break above recent resistance at 9245 could trigger a move back towards 9400, however failure to do so could see a pull back towards lows of 8900.
The US Dow Jones stuttered into the close last night, however the futures are pointing to a higher open today. Resistance was felt at 16620 which was also a level of resistance seen last week. A break above this level may signal a push towards 16700. A failure to do so could see Fridays lows of 16260 come back into play. With very little in the way of macro data due for release today, all eye will be on the ever mounting global tensions.
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Solid Green line
Possible support
Solid Red line
Possible resistance
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
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
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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