European equities keep higher, US futures gain to start the session
European indices are pushing higher in the opening hour, with the DAX now up by 0.9% as we also see US futures recover some poise after a bit of a warning shot earlier today.
S&P 500 futures are up by ~0.5% while Nasdaq futures are up by ~1.2% currently, but in the context of the fall seen since Thursday, this is of little comfort.
Despite the push higher in the past hour, caution remains as the risk mood is still in a precarious spot following the sharp declines seen in the past few days.
The selling may encounter a bit of a breather, but the pullback here is nothing much to shout about – at least for now.
The technical picture is going to be key in identifying the bias/sentiment in the market so keep an eye on that later in US trading to see how things play out.
200-hour MA (blue line) firmly breached in the Nasdaq, can sellers build on that or will buyers be able to claw their way back towards the key near-term level?
Key support seen closer to the 11 August low @ 10,762.71 and the 23.6 retracement level @ 10,789.60 offering a real test of buyers’ resolve this weekThis article was originally published by Forexlive.com. Read the original article here.