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: 6824; Support 1, 2 & 3: 6801, 6786, 6763; Resistance 1, 2 & 3: 6839, 6862, 6878
The 6820 breakout on the 1-week chart failed at 6850, which has seen a retrace back to round number 6800. This could lead to a revisit of the lows of 6765 before we make another move higher. The 1-month and 3-month charts hint at this with their falling highs and channels. Support available via the intersecting trendline from end-Feb which would help keeping us in the upper end of the recent range and the uptrend alive. The longer term chart shows potentially further to fall for a true consolidation. Long weekends in the US and UK may be taken as an excuse for some risk to be taken off the table.
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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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