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European markets have started on the front foot this morning after a new opinion poll showed the ‘No’ vote for Scottish independence back in the lead. This comes as two banks (RBS and Lloyds) signalled their intentions to relocate their head quarters to England should the Scots back a break from the UK. The US is looking weaker this morning after President Obama said that he is prepared to authorise air strikes in Syria against the Islamic state militants, but said that no ground troops will be deployed. Tensions in Ukraine also eased slightly overnight with reports that Russia had withdrawn more than two-thirds of its troops from the country.
UK’s UK 100 continues its lack lustre stance as investors look towards next weeks Scottish independence vote. Support at prior lows at 6777 still remains, but with little in the way of macro data due out today we could see a very slow trading session with very little direction.
Germany’s DAX much like the UK 100 is trending sideways at the moment, with resistance still seen at 9800 and the 1 month rising trend still intact and likely to prove a level of support. With little in the way of data out today, global and political events could provide direction.
The US Dow Jones once again failed to maintain a break below 17000. After trading below 17000 early in the session the Dow pushed higher and closed above 17000 which seem to be providing a strong level of support. The 2 week trading range is still in place, however, 17000 has come under pressure a few times in the last week or so. Can it continue to hold? A break below could signal a pull back towards the 16800’s although, new all-time highs are still within striking distance.
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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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