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Global markets are being held lower this morning as the violence in Ukraine escalates with the ceasefire seemingly collapsing. Fighting has returned to levels that preceded the ceasefire, which could signal further sanctions against the Russians. US markets closed relatively flat on light volumes due to Veterans Day Holiday, whilst the European peers pushed higher, making further headway into the loses of last month. For the UK’s UK 100 , corporate earnings are still dominating proceedings and providing direction. Macro data in the form of unemployment as well as the BOE’s inflation report due for release this morning could add some volatility to the UK 100 .
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The UK’s UK 100 is trading much the same as yesterday with support still holding firm at the 50 day moving average. A break below the 50 day moving average may see a pull back towards the 100 day moving average around 6588. The RSI continues to decline as it heads towards the oversold level.
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 has broken below its 3 week rising trend line this morning, also falling below its 50, 100 and 200 day moving averages. Should support at 9290 fail to hold then we could see the DAX heading down towards 9250 before possibly 9150. The RSI is continuing to fall, now into oversold territory.
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 has broken below its 3 week rising trend line this morning and has also broken below its 50 day moving average. However, support has come in now at the 100 day moving average although a break of this could see the Dow pull back to the 200 day moving average around 17475. The RSI is continuing to fall and it now closing in on oversold territory.
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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