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European markets are mixed this morning follow a relatively flat close yesterday. US markets registered another record close overnight ahead of today’s Thanksgiving holiday. With US markets being closed today volumes may be reduced with the key events of the day coming this morning in the form of German unemployment and CPI as well as Eurozone economic, industrial and consumer confidence. Oil traders will be keeping their eyes on the OPEC meeting in Vienna later today.
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The UK’s UK 100 has broken below its 5 week rising trend line this morning finding support at its 200 day moving average. A sustained break below this level could see the UK 100 pull back towards 6663. This morning has also seen the 50 day moving average break below the 100 day moving average, whilst the RSI is declining.
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 is still slowly creeping higher this morning buoyed by hopes of further stimulus by the ECB. Support for the downside looks likely to come at the 50 day moving average and resistance could been seen around yesterdays high. The RSI has turned lower and is now declining.
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
US Dow Jones continues to trade in a 1 week range as the 5 week uptrend has begun to flatten out. Dow futures have fallen below the 50 and 100 day moving averages this morning, although US cash equity markets are closed today.
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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