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European equities positive despite a weak overnight session in Asia following the RBA’s decision not to cut rates and some caution ahead of China’s updated growth target (Thurs), the US Jobs report (Fri), the ECB starting its bond buying programme this month and a potential Greek cash crunch. Note the Mining sector hindered by GLEN results, while Gold held back by lack of panic and strong USD.
The UK Index maintains its northerly course with a fresh all-time high yesterday even if trading over the last few sessions has been sideways. Progress slow. No decisive break to the upside.
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 continues to creep higher, hugging the trend-line of rising lows from 19 Feb very closely. Another fresh intra-day high this morning. Period low corresponds to 20-day MA which has been supportive since early in the month.
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 has made it above recent resistance which looks to have reverted to turned supportive. The index continues to make step changes to the upside following its breakout above 18100.
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 recovery uptrend off 4-month rising support at $1200 continues. Potential resistance trendline developing around $1225, meaning another narrow channel for the ascent. Beware multiple long candlestick wicks above and below suggesting some uncertainty/indecision.
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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