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Equity markets are lower this morning after a flattish finish stateside as the Greek election result was digested and a harsh storm approaches the Eastern Seaboard, coupled overnight with China Industrial Profits growth showing a worsening in contraction in December, adding to global growth worries and emphasising the commodities rout and Russia being downgraded to junk by ratings agency S&P.
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The UK’s UK 100 ‘shas pulled back below 6850 this morning with support likely around the 200 day moving average at 6825. The 50 day moving average has broken above the 200 day moving average whilst the RSI has fallen 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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Germany’s DAX registered yet another all-time high yesterday breaking 10800 for the first time. This morning it broke back below 10800 finding support at the 50 day moving average. The RSI is has begun to rise once again after breaking from 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 could trading within its moving averages today with resistance coming into play at the 200 day moving average around 17676 and support coming at the 100 day moving average around 17647.
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 Gold falling again this morning making this its longest losing run so far this year. Gold is now trading below all its moving averages with with these moving average providing potential resistance. The RSI is falling after bouncing from overbought.
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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