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Markets are lower once again this morning as the Scottish Independence vote edges ever closer. This combined with reports of tensions again rising in Ukraine after a day of shelling at Donetsk airport yesterday. The US have also stepped up their airstrikes on Islamic State militants in Iraq and Syria. Macro wise all eyes will be firmly on the result of tomorrows FOMC statement to give us an indication on the likelihood of an earlier than anticipated rate rise.
The UK’s UK 100 is has broken below prior support this morning as the Scottish Independence vote nears. If this break is sustained then we could see the UK 100 back at 6700 as their looks to be little in the way of support until then. The RSI is now trading in oversold territory. Resistance on the upside likely at 6820 and then at the 200 day MA around 6835.
Germany’s DAX has broken below its 5 week rising trend line this morning, with a sustained break possibly seeing the Dax pulling back towards the 9400’s. The RSI has bounced off oversold and we have see the 50 day MA cross below the 200 day MA.
The US Dow Jones failed to convincingly break the support it had found over the last 3 weeks and is now back above the 17000 level. Traders will be turning their attentions to tomorrows FOMC meeting for signs of the time frame on an impending rate rise. Resistance on the upside may be found at the 200 day MA around 17050.
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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
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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