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Global markets continue to be driven by events in Ukraine with reports that a ceasefire could be agreed today after a meeting between the Russian and Ukrainian Presidents later this morning. The ECB also helped markets higher yesterday after cutting interest rates by 10 basis points to 0.05%. The markets, in particular the UK 100 , were dragged lower during the afternoon session as BP, who hold a 5% weighting on the UK 100 , fell 6% on news that they had been found ‘grossly negligent’ over the Gulf of Mexico oil disaster back in 2010.
UK’s UK 100 hit a new 14 year high yesterday after the ECB cut interest rates to 5 basis points. The UK 100 traded within 45 points of all time highs, with optimism over a peace deal being struck in Ukraine also helping the markets. However, the UK 100 did pull back later in the day weighed heavily by BP’s 6% decline.
Germany’s DAX is trading back at 5 week highs today after the ECB’s rate cut decision yesterday helped to push markets higher. Resistance may come around 9812, with support at the 1 month rising trend line still intact.
The US Dow Jones set yet another all-time high yesterday before pulling back later in the session. Non-Farm payrolls due for release this afternoon could cause some volatility in the markets. Resistance could come at yesterdays high with support around 17000.
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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
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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