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Markets are mixed this morning as tensions in Hong Kong continue to weigh on sentiment. A raft of data today could add direction to the markets, however, many may be waiting for the release of US Non-farm payrolls on Friday. Company news has also played its part in weighing on the markets with Ford issuing forward guidance concerns in the US last night whilst Next did the same this morning in the UK. Stocks with exposure to Hong Kong are all weighing the markets down.
The UK’s UK 100 found support again yesterday just above 6600, however, it has also found resistance this morning at the 100 day MA, a level it has failed to trade above for over a week. A break above the 100 day MA could see the UK Index head towards the 200 day MA around 6722.
Germany’s DAX failed to sustain a break of prior support while resistance is very close at 9446 and then the 50 day MA around 9469. Which level will break first? The RSI has gained some positive momentum after recovering from oversold territory.
The US Dow Jones is trading in the middle of its recent range. We have seen the futures trade back above the 20, 50 and 100 day MAs this morning as it looks to regain the highs of the last couple of weeks. Resistance may come at the 200 day MA around 17145 with a break suggesting an approach towards the highs of last week. Support may come at the 100 day MA around 17077.
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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
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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