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Markets are mostly lower this morning continuing from yesterday’s sell off. This was driven by growth concerns across Europe and China, weak US data, geo-political tensions in Ukraine and Hong Kong as well as a case of the deadly Ebola virus being confirmed in the US. Traders will also be watching the macro calendar today ahead of tomorrow’s non-farm payroll data release.
The UK’s UK 100 is trading on a key one month support level this morning as it continues its descent towards April lows of 6500, a level that if broken could see the UK 100 head towards its year lows around 6390. The RSI is now into oversold territory.
Germany’s DAX is continuing its fall from mid-September highs with very little in the form of resistance until around 9046. The RSI has turned lower and is heading towards the oversold level. All eyes will be on this afternoon’s ECB rate announcement and Mario Draghi’s press conference shortly after.
The US Dow Jones broke below a key support level yesterday as weak data and an Ebola case in the US helped drive the Dow lower. Support was found at 16776, which may be a level to keep an eye on now. Traders will look towards the weekly jobless number this afternoon before tomorrow non-farm payroll data release.
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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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