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Markets are weaker this morning as the conflict in the Middle East intensifies after Israel reportedly shot down a Syrian fighter plane this morning that had flown into its airspace. This comes after the US and several Arab allies launched airstrikes against IS militants in Syria. Earlier this morning saw some slightly more positive data from China as manufacturing data topped estimates, although sluggish property prices were a concern.
The UK’s UK 100 has taken a dive this morning as the Middle East conflict intensifies. Some of the UK 100 heavyweights are feeling the pressure this morning too which is weighing on the market. The RSI has moved into oversold territory and the the 50 day MA has broken below the 100 and 200 day MA’s. There looks little in the way of support until around 6650 with resistance likely around 6800.
Germany’s DAX has broken below its 7 week rising trend line this morning after falling from Friday’s highs in which it failed to breach 9900. Support may come at 9647 with resistance now possible at the 200 day MA around 9709. The RSI has now broken into oversold territory.
The US Dow Jones is continuing to decline from the all-time highs of last week as the US step up airstrikes against IS militants in Syria. The S&P 500 yesterday fell by its largest margin in nearly 7 weeks with the Dow following suit. Support may be found at the 200 day MA around 17127 and again at 17062. The 20 day MA has crossed below the 100 day MA, with the RSI trading on the boarder of oversold territory.
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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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