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Equities are flat this morning while Gold hugs the $1200 mark as a ‘wait and see’ mentality prevails around Greece’s future in the single currency bloc. Early indications are that a list of reforms submitted in true academic fashion – at midnight last night – are a ‘sufficiently comprehensive’ starting point for an agreement by peers/creditors of the 4-month bailout extension deal.
The UK Index remains in its February uptrend although it sits almost equidistant from its recent highs and trend line of rising lows. Pretty much sideways since yesterday, its next move likely depends on the Brussels outcome.
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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A similar story for Germany’s DAX, also maintaining its uptrend of the last week but pretty much sideways since Friday. Still potential for a breakout of all-time highs to keep the 2015 uptrend alive.
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 is hovering just shy of all-time highs, still in a February uptrend but yet to make a decisive break out from its 2-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.
Click here for help with Support & Resistance Click here for help with technicals
Gold refuses to budge from a solid 1-month falling channel, the ceiling of which could cap any near-term gains at $1200. It looks increasingly like rising support from early November has now been breached. However, we note trading activity in June and Dec 2013 around the $1180/90 region which may offer some near term support.
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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