FxWirePro- DAX and FTSE100 Daily Outlook

FTSE 100-

The UK index hits seven months low on global market turmoil.  Russia and Ukraine war has affected global market sentiment and decreased demand for riskier assets like stocks.  Crude surged above $125 on fears of the US ban on Russian oil imports. FTSE100 declined till 6829 and is currently trading around 6826. Near-term support is at 6750, any breach below targets 6700/6600. The immediate resistance to be watched 7000; violation above will take the index to 7170/7220/7287/7300.

DAX30-

The German index trades weak for the seventh consecutive day and lost nearly 22% this week. Global Markets are still under pressure on an escalation of tension between Russia and Ukraine. Resistance is around 12800. Any breach above targets 13125/13495/13865. The index should close above 14500 for trend reversal. The immediate support is around 12380, a decline below that will drag the DAX to 12000/11500.