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 Point: 6425; Support 1, 2 & 3: 6384, 6350, 6309; Resistance 1, 2 & 3: 6460, 6501, 6535
While the 1-week graph shows some volatility, the 1-month graph shows how stuck we are in the current 6380-6480 holding pattern, in a range which continues to narrow on account of pressure from falling highs since mid-September.
Lack of US budget progress keeping sentiment in check. China and Japan adding their tuppence about the fallout from a potential default (they hold lots of US debt) and the impact on global growth, something the IMF may even comment on today.
While still looking for a break of 6380 or 6485 to revive market direction one way or the other, today’s range sits at a narrower 6410-6435. All in all, 3-week downtrend dominating as risk aversion sees participants cashing out rather than placing more bets until a major move is made in Washington.
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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