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Equity markets are higher this morning after a frantic Friday which saw US Non-Farm payrolls come in better than expected and unemployment decreasing to its lowest level since 2008. This led to the Dow Jones having an initial push upwards but declines ensued with a 170 drop.
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The UK’s UK 100 has broken back above 6500 this morning, trading above both its 50 and 100 day moving averages in the process. Resistance was met at the 200 day moving average at 6528 this morning which could be a level to watch. The RSI has rallied and is now trading at overbought levels.
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 much like the UK 100 has broken back above its 50 and 100 day moving averages whilst resistance was met at the 200 day moving average at 9734 this morning which could be a level to watch. The RSI has rallied and is now trading at overbought levels.
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
US Dow Jones is finding support around 17700 while resistance on the upside is likely at the 200 day moving average around 17800. The 100 day moving average has crossed below the 200 day moving average whilst the RSI ave moved into overbought territory.
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
Spot Gold has fallen off this morning after trading at a one month high overnight. After breaking below its 50 and 100 day moving averages support could come into play at the 200 day moving average around 1214. The RSI is also declining and is now trading towards oversold.
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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