This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Major Support & Resistance (pivot points – explained):
Pivot: 6578. Support: 6505, 6451, 6378. Resistance: 6633, 6706, 6760
The UK Index , often influenced by trading in the US, could track sideways today after a rout in US trading resulted in record highs being registered. This could lead to indecision today.
Currently trading just below today’s pivot of 6578 a push north could experience turbulence at 6600 before challenging Resistance 1 at 6633. A move south could see decent support come in at 6505, Support 1, which could be backed up by investor habits of buying at round numbers.
Catalysts for a move in either direction could come in the form of PPI data in the US at 13:30 or University of Michigan sentiment data at 14:55. Around midday we’ll receive trading updates from US banking behemoths JP Morgan and Wells Fargo, exceptional profits or losses could lead to sector shifts both sides of the pond with the potential to influence indices.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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