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Global markets had a lack luster day yesterday as the US and some European indices have seen all-time highs reached and others including the UK Index 100 are approaching their own all-time highs. A lack of macro data as well as growing concerns over Iraq have seen many investors sitting on their hands and waiting to see how thing play out. Crude is still trading up at 10 months highs due to Iraqi tension and gold is also still trading up at multi-month highs as investors look toward the ‘safe haven’.
The UK UK Index is stuttering somewhat this morning as it looks to trade back up to last weeks highs of 6879. However, 6836 has been a level that the UK Index has failed to break over the last couple of days and seems to be confirmed as a level of resistance. All eyes will be on the comment from the BoE’s governor Carney’s comments at 9:30am this morning to gauge a time frame on the inevitable interest rate rise.
Germany’s DAX has failed to build on the momentum of last week that saw a new all-time high set on Friday. Is this a pause for breath or has the DAX run out of steam? A drop below 9862 could see the DAX head back towards mid May level of 9775.
The US Dow Jones has also failed to build on the highs of last week as investors struggle to find reasons to keep buying. However an upward trend is still intact as we once again look for record highs.
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Solid Green line
Possible support
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Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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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
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