The UK index showed a minor pullback of more than 150 points from a low of 7352. The escalation of Russia and Ukraine tension has dragged FTSE100 by 4.4% from an all-time high of 7693. Markets await further developments in geopolitical jitters for further direction. The index re- gained above 55- day EMA (7458) and below 7528 (21-day EMA). The near-term support is around 7345, any breach below targets 7300/7200. The immediate resistance to be watched 7530, violation above will take the index to 7600/7695.
DAX30-
The German index recovered sharply due to short covering from a minor bottom 14256. Markets are still under pressure due to Russia's invasion of Ukraine. The index is struggling to close above 14795 (21- 4H EMA). Any breach above targets 15011/15178. The immediate support is around 14450, decline below that will drag the DAX to 14250/14046/13685.
Major trend reversal level only if it breaks 15200.
