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Major Support & Resistance (pivot points – explained):
Pivot Point: 6795; Support 1, 2 & 3: 6730, 6748, 6778; Resistance 1, 2 & 3: 6825, 6843, 6873
A hoped-for-cooling of tensions between Russia and Ukraine and a dovish testimony from Fed Chair Yellen helped equities bounce from support at yesterday 6770 after a raft of negatives had brought us back from recent highs. Optimism further helped overnight by strong Chinese trade data and corporate announcements this morning from the likes of Barclays (strategy update) and BT (Q4 results).
We are thus headed back towards recent highs of 6840 which remains a hurdle before any revisit of 2014 highs of 6886. Rising support still valid at 6780 for any subsequent weakness. Daily momentum cooled but still very much positive. Looking at the pattern from the lows 6500, could this be just another 1-week pause amid an uptrend towards turn-of-the-millennium highs of 6940 allowing the UK Index join peers in trading at or around all-time highs?
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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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