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Markets are off to a weaker start across the board this morning after news that a patient had tested positive for Ebola in New York caused a pull back in the States towards the close. This looks to be a body blow for sentiment after a couple of positive sessions looked like the markets were attempting to get back on track after last week’s heavy losses.
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The UK’s UK 100 is still struggling around its 20 day moving average after a few more failed attempts at a break above it yesterday. Sentiment may have been hit today as the first case of Ebola hit New York overnight.
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 managed to sustain a break above prior resistance as well as its 20 day moving average, which had been a tricky level for the past few sessions. Support may come firstly at 8980 then at 8900 and 8880, whilst resistance may been seen at 9135, 9232 and the 50 day moving average at 9341.
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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The US Dow Jones found resistance at its 200 day moving average last night after briefly breaking above it before a late pull back on news that the first case of Ebola had hit New York. The 200 day moving average will likely provide resistance again today with support to the downside coming firstly around 16522.
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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