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: 6553; Support 1, 2 & 3: 6514, 6485, 6442; Resistance 1, 2 & 3: 6586, 6629, 6657
After the US-inspired weakness of last week (JPMorgan, dovish Fed, Tech bubble), support has been found at the round number 6500. Furthermore, we are already back testing the breached rising lows from February at 6550, derived from a combination of some appetite for risk/bargain hunting at current levels, natural resources being boosted by increased Ukraine tensions and a sizable Chinese copper resources purchase, and some understandable interest in big-yielding defensives after the sell-off. With JPM having spooked markets last week, prepare yourself for Citigroup today, and peers BoA on Weds and Goldman Sachs on Thurs. You know what they say about London buses.
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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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