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Major Support & Resistance (pivot points – explained):
Pivot Point: 6821; Support 1, 2 & 3: 6793, 6766, 6737; Resistance 1, 2 & 3: 6848, 6876, 6903
Some might have expected the ECB stimulus delivery to generate a more positive response by UK blue-chips. European and US names fared better. As it is, bar yesterday’s test of 6850, we are still in a 2-week sideways range, not helped by one risk event making way for another with the US Jobs report this afternoon and Chinese trade data at the weekend.
The bounce off support at 6795 offers the chance that we revisit recent highs of 6880. Note Daily Momentum positive having found support at break-even while the hourly RSI is still in an uptrend from oversold at the beginning of the month. Keep an eye on interpretation of US jobs data this afternoon. The headline number is not always the most important or market-moving.
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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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