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Markets are mixed this morning as dovish comments from the FOMC last night pushed the Dow to a new all-time high as it broke into the 17200’s. Markets were treading water for much of the session as traders were waiting on the comments from the FOMC before deciding on a direction. Closer to home, the latest polls on Scottish independence show the “no” vote still leading, however, with many voters still in the “don’t know” camp, it could still be a close call. The UK Index could tread water again today ahead of the vote as traders look to position themselves for the final outcome.
The UK’s UK 100 is once again trading on prior support as traders look to position themselves ahead of the Scottish Independence vote. Yesterday saw both the 20 and 50 day MA’s break below the 100 day MA signalling a possible retreat from here, however, the support level we are currently at has held firm on a number of occasions over the past 4 weeks.
Germany’s DAX is continuing along its 5 week rising trend line after a brief break yesterday failed to materialise. The 20 and 50 day MA’s broke above the 100 day MA yesterday suggesting that the 5 week uptrend could be set to continue. This morning has seen the Dax break above it’s 200 day MA which again may signal its intent to head higher. Support may still be seen along the rising trend line with resistance to the upside not too far away.
The US Dow Jones registered another all-time high last night after dovish comments from the FOMC boosted sentiment. The FOMC said that they would leave rate’s at these levels for ‘considerable time’. The Dow has fallen back from the highs this morning but is now trading above all its major MA’s. Prior resistance may now turn support as the Dow looks to get back into the 17200’s again.
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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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