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Markets trading significantly lower this morning caused by more global uncertainty, with Greece beginning to make headlines again with talk of a Greek exit of the Euro. Markets are concerned about the contagion affect that this could have on the rest of the Eurozone which is dragging the markets lower. Oil continues to fall with oil stocks also weighing heavily on the markets after WTI trades below $60 per barrel for the first time in nearly 6 years.
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The UK’s UK 100 briefly broke below 6400 this morning, trading at a 6 week low. Support was found at 6375 before a bounce back up above 6400. A break below 6375 could see the UK 100 head down towards 6200 whilst to the upside resistance may come in around the 50 day moving average.
Solid Green line
Possible support
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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 2 month rising trend line which could signal a pull-back towards 9700. The rising trend line could now provide potential resistance on the upside as could the 50 day moving average. The 50 day moving average has now broken below the 20 day moving average although the RSI is rising.
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 found support once again at 17525, a level that has held firm on a number of occasions recently. A break below this level could see the Dow trade down towards 17400 whilst on the upside 17600 will be the first target before a push towards 17700.
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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Spot Gold found support at its 100 day moving average this morning at 1218. Resistance may come into play at the 50 day moving average around 1226 with the 100 day moving average continuing to offer support. The RSI is also rising this morning.
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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