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Major Support & Resistance (pivot points – explained):
Pivot Point: 6839; Support 1, 2 & 3: 6808, 6771, 6739; Resistance 1, 2 & 3: 6876, 6908, 6945
With a lack of macro data to scare or please, the index has continued to give up ground from recent highs and moved into a falling channel from the middle of last week. This provides a ceiling at 6850 which needs to be broken if we are to return to highs of 6897 and a floor around the 6770 lows of early May which needs to hold if any subsequent weakness is to be halted.
Beware another quiet session with only UK Inflation data to be reported although we do have ECB and Fed speakers to provide potentially market-moving comments given the importance of the ECB’s next move on stimulus and the Fed’s path to policy normalization.
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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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