Not the Invasion but Scale of It Scares the Markets

The Russian invasion of Ukraine is beyond original expectations that significantly increases the risk mode off on the markets, which were largely expecting some kind of conflict but not on this scale.

SP500 broke the neckline of the head and shoulders pattern and is heading lower.

The same goes with Nasdaq.

After testing the neckline from the bottom, DAX is currently dropping like a rock, full bearish mode.

The GBPUSD pair fails to hold above the 38,2% and drops down entering the channel down formation.

The GBPJPY pair drops after the triple top formation. Target is still relatively far, so prepare for more pain.

Gold surges, showing what the real safe haven is (yes, it is not Bitcoin).

Oil breaks the psychological barrier on 100 USD/bbl. Prepare for higher bills at the petrol station.

For a look at all of today’s economic events, check out our economic calendar.