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Global markets have opened higher on the first trading day of 2015 with volumes expected to be lower than normal. All eyes will now turn to seeing how the New Year starts after the surprisingly volatile Christmas period. New Years eve saw the Dow fall 160 points with the Nasdaq losing 41 points and the S&P 500 closing down 21 points. Oil continued to weigh with WTI trading at $54.68 a barrel and Brent at $59.25. Gold edged higher on Friday as higher oil prices boosted its safe-haven appeal, but the metal looked set to post its third consecutive weekly loss, weighed down by a strong dollar.
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The UK’s UK 100 has started the year positively, holding above 6500. Resistance was met at the 200 day moving average with a break below the 50 day moving average soon following. Support came into play at the Pivot level of 65020. The RSI is also beginning to decline.
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 has started the year on the front foot, although resistance was met at the 100 day moving average. Support could come into play at the Pivot level of 9710. The 100 day moving average has broken below the 200 day moving average whilst the RSI is declining after bouncing from over bought.
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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US Dow Jones is positive this morning after falling below 18000. The Dow is now trading below all of its major moving averages with the 50 day moving average breaking below the 200 day moving average. Resistance may now be found around 18000 as it looks to break that level again.
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
Spot Gold has fallen below all of its major moving averages with resistance likely at the 200 day moving average around 1189. Support looks to be building around 1186.
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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