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A quiet start to the week with many continental Europeans on holiday, but US markets still managed to inch higher and push new all-time highs on economic optimism, a targeted RRR cut for Chinese banks and some hawkish Fed talk.
The UK UK Index failed to better its end-May highs of 6883, faltering at 6880 yesterday. Work to do to get to 6897 multi-year highs never mind join peers at all-time highs. The 6770-6897 sideways range of the last month is unperturbed. After the weak open, last week’s ECB spike highs at 6850 look to be offering some support.
Germany’s DAX tried again at 10,200 which means potential for break higher and new highs, supported by the uptrend from mid-May with rising lows at 9970 and the 15-min RSI suggesting oversold.
The US Dow Jones’ keeps eking out fresh highs, maintaining its strong uptrend from early Feb and pushing the resistance just that bit higher. Next big round number 17,000. Note Daily RSI overbought with last major signal the oversold in early Feb.
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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
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