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Markets are trading higher this morning after both Bank of England and FED monetary minutes were released yesterday and showed signs that the inevitable interest rate rise could be very close. A raft of macro data is due to be released today and could be the catalyst for the markets trading direction today. The global tension issues are still at the forefront of the news with any further development likely to have an effect on the markets.
UK’s UK 100 found support yesterday at the 3 week uptrend line. However this was briefly broken this morning which could signal a move lower. The UK 100 is still trying to make moves higher and if support of the 3 week uptrend, around 6760, holds then we could see a move towards 6800.
Germany’s DAX found resistance both yesterday and again this morning at 9353 which could now be a key level to watch. Better than expected Manufacturing and Service PMI data released from Germany this morning has helped turn the DAX positive, with a break of 9353 giving a potential move up towards 9500.
The US Dow Jones has broken the 17000 level this morning as the US markets continue to recover. Hawkish concerns from the FED’s minutes did little to curb the 3 week uptrend as the DOW futures look to a positive open. With a break above 17000 already seen this morning the DOW will now look to push towards those all-time highs again. Resistance may be felt at 17020 and 17067 but a raft of macro data this afternoon from the US could help (or hinder) the rise.
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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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