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Markets have started the week on a high after a strong finish in the US helped sentiment. Sentiment was also buoyed by European bank stress test results. Today is light on the macro data front with German IFO and US pending home sales the only real points of note. The rest of the week could be dominated by earnings as some of the UK 100 heavyweights release their results.
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The UK’s UK 100 has managed to sustain a break of its 20 day moving average, a level that proved difficult the break on a number of occasions last week. Resistance was found at 6454, however, a break of this level could see the UK 100 push back up towards the 6800’s again.
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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Germany’s DAX is making some real headway in clawing back the losses sustained over the last month. We have seen the DAX now break above a couple of key resistance levels with 9300 a possible target level now.
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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The US Dow Jones continues its run back up towards 17000, rising around 1000 points for last weeks lows. Resistance has been found at the 100 day moving average, after the Dow broke above it’s 20 and 200 day moving averages.
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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