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Markets are off to a mixed start this morning with the UK 100 and Dow in the red whilst the DAX is showing gains in early trading. Markets had a rally yesterday on speculation of fresh stimulus from the ECB and also a positive reaction from traders following US corporate earnings.
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The UK’s UK 100 held its support level yesterday whilst find resistance at its 20 day moving average around 6400, a level highlighted yesterday as possible resistance. Corporate earnings could be the driver for the markets today with little in the way of data. A break of resistance at 6400 could signal a push towards 6500.
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.
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Germany’s DAX broke above a key resistance level yesterday only to then find resistance at its 20 day moving average. The broken resistance level at 8900 could now turn support as the DAX looks to get back on track and head back towards September highs.
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
The US Dow Jones continued to eat into the losses suffered over the last month yesterday rallying over 200 points.We are now around 600 points off the lows of last week with resistance likely at the 200 day moving average around 16700, a break of which could signal a move towards 16900.
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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