🔽Indices give up early gains as geopolitics weigh on sentiment
While major European stock market indices launched today's trading little changed, weakness arrived later on and pushed blue chips indices from the Old Continent lower. Indices from Germany, France and the Netherlands trade 1.0-1.5% lower on the day. Brent jumped back above $100 while WTI is nearing this psychological level. Sentiment continues to be negatively impacted by the ongoing war in Ukraine. Western intelligence sees risk of Russians becoming more violent as initial failures and slow progress of their invasion. New reports of shelling of residential areas in Ukrainian cities surfaced. On top of that, Ukrainian authorities reported that Belarus troops have crossed its border in spite of Lukashenko assuring just hours earlier that Belarus will not join Russian forces in Ukraine. Meanwhile, Western countries continue to levy new sanctions on Russia. Companies continue to cut ties with Russia as well. Maersk, the largest shipping company in the world, announced today that its massive fleet of over-700 ships will not dock at Russian ports.
DE30 broke below a short-term upward trendline today, threatening to end ongoing correction. Source: xStation5
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US500 halted the advance after a failed attack on the 4,367 pts resistance zone. Source: xStation5
WTI (OIL.WTI) jumped towards $99 per barrel this morning as tensions and hostilities in Eastern Europe continue to rise. Source: xStation5
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