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Global markets are trading mainly positive this morning as global tensions continue the play a major role in the movement and direction of the indices. Tensions between Russia and Ukraine doesn’t seem to be coming to any type of conclusion as Russian-backed rebels continue their advance into the East of Ukraine. Elsewhere, global leader are becoming more and more concerned about the Islamic militants in Iraq and threats they could impose on home territory. These issues seem to be the driving forces behind the markets moves. Today could see subdued markets and lower volumes as the US and Canada are closed for Labor Day.
UK’s UK 100 continues to tick along sideways with resistance around 6830 playing its part on a number of occasions over the last 2 months. A break of this level could provided the UK 100 with the push and momentum it needs to head back towards 6875. Today could see a fairly lack lustre day with US markets closed for Labor Day.
Germany’s DAX has been trading sideways over the last week or so after an attempt to eat back into losses felt at the start of August. A 2 months falling trend line may provide a point of resistance to the upside around 9560, although the 4 week rising trend line could provide support to the downside around 9360. Germany GDP data released this morning came in as expected with little impact on the DAX this morning at all.
The US Dow Jones will be closed today for Labor Day. The futures are trading slightly lower this morning as the DOW recoups from hitting all-time highs last week.
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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.
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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
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