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Global markets have moved into the blue this morning after Friday’s slightly weaker US payroll data and escalating tensions in Ukraine extended declines across the markets. Clashes between Ukrainian forces and Russian backed separatists intensified this weekend which could cause some added volatility to the markets this week. It’s also another big week for corporate earnings, which could be one of the main driving forces behind the direction of the markets this week.
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The UK’s UK 100 is still trading above the prior resistance turned support level of 6559, whilst further support held again at the 50 day moving average. A break below 6559 could see support come in at the 100 and 200 day moving averages. The RSI is still rising towards overbought territory, although its not there yet.
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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Germany’s DAX briefly dipped below the 3 week rising trend line this morning before breaking back above it as well as the 100 day moving average. Resistance may come in around the 50 day moving average at 9342, with a break above giving rise towards last weeks highs.
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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US Dow Jones continues its uptrend as it looks to break yet more all time highs this week after registering multiple records highs last week. The Dow is trading above its major moving averages with support likely at the 50, 100 and 200 day moving averages. Resistance may come around last weeks highs of 17600.
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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