Financial markets turn negative after possible confrontation over Syria’s conflict.
- Technical indicators have turned bearish and signalling an opportunity to go short.
- Wall Street double top pattern could be confirmed in the coming days if the index reaches the 14600 level.
- If Wall Street price breaks below the 14600 level traders would target the 14400 – 14000 level; where the next 38% and 50% retracement level are located respectively.
- News of a possible confrontation between USA and Russia over the Syrian conflict has put the financial markets across the world in high alert.
- The unusual hostility has reinforced the new Wall Street double top and downtrend.
- Bearish market sentiment.
- Consumer confidence reading did little to improve the mood in Wall Street.
- There will probably be little that could help Wall Street fears the in the coming days.
- No until the current situation turn to favours the financial markets.
- GDP on Thursday is expected higher which could send a mix signal.
- Jobless claim due on Thursday is expected to show improvements.