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Global markets are pushing higher this morning with the US Dow Jones registering yet another record high overnight, whilst its European peers are looking to regain some of the losses seen yesterday. Escalating tensions in Ukraine and data released overnight indicating that China’s economy is still slowing has had little detrimental effect on the markets this morning. The Dow traded higher after the Fed’s Kocherlakota reiterated that a 2015 rate hike would be too early. Today sees a number of ECB and Fed members speaking with Fed Chair Janet Yellen being the most noticeable. We will also get weekly jobless claims numbers from the States at 1:30pm.
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The UK’s UK 100 is struggling to make up its mind around current levels with support and resistance levels coming into play a number of times on a daily basis. After a break below prior support the UK 100 then found new support along the 100 day moving average, a level that was highlighted yesterday. A break back above the 50 day moving average prior support level could be an incentive for the UK 100 to attack 6700.
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 is looking to regain some of the losses of yesterday’s session. The DAX is now trading below it’s 50, 100 and 200 day moving averages whilst the RSI is continuing to climb. Resistance may now come at the 50, 100 and 200 day moving averages, while support could come around 9160.
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
US Dow Jones registered another all-time high overnight as it trades up towards 17700. The 4 week uptrend is still intact with the 50 day moving average providing support. The RSI has turned lower and is now falling from overbought territory. The Fed’s Janet Yellen speaks this afternoon which could give the markets a further lift.
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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