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Major Support & Resistance (pivot points – explained):
Pivot Point: 6845; Support 1, 2 & 3: 6833, 6821, 6809; Resistance 1, 2 & 3: 6857, 6869, 6881
The index has finally overcome 6860, delivering a breakout from a bullish ascending triangle pattern that could allow for a revisit of recent 6897 highs. Thereafter, could the UK index finally join peers in making fresh all-time highs – after a mere 14.5 years?
Daily momentum has perked back up above neutral while our hourly RSI sits in the upper end of the range which is positive. 6860 now support for any pullback. The risk is that 6875-6900 proves resistance for a third time this year. In terms of catalysts, US Q1 GDP is expected to be revised down this afternoon. Confirmation or pleasant surprise?
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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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