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Equities were positive this morning after encouraging news from Brussels that saw a 4-month Greek bailout extension agreed with conditions. All eyes are on the Greeks today as they present their list of reform measures for validation. Gold holding below $1200 on falling demand due to a (no doubt temporary) drop in uncertainty.
The UK Index is trading back from a re-test of fresh all-time intraday highs of 6961 made on Friday night. It remains in a Feb uptrend with support around 6860 but with near-term support likely around 6905.
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 is also trading back from a re-test of fresh all-time highs, but the 1-week trend of rising support still holds around 11000.
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 makes it a trio of indices back from recent all-time highs. Potential for breakout zone 18050 to serve as support on any subsequent weakness, which could confirm a breakout from the 2.5-month sideways channel.
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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Gold’s has now made a break below the $1200 level and the trend line of rising support dating back to Nov-2014. the downtrend channel remains in play, albeit within narrower confines.
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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