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Equity markets continue to give up the gains of late last week as the prospect of US Fed rate hike looms large and an ever-strengthening USD (11.5yr highs) hinders the commodities space and risk assets in general. Gold failing to shine, seeming destined for November lows, despite much frustration in Brussels about Greece reform progress and uncertainty about Global growth following mixed Chinese inflation readings.
The UK 100 continues to fall back from recent all-time highs, testing March lows and with Feb rising lows now abandoned, there is potential for a fall back as far as end-Jan lows of 6720 should a double top complete.
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 trading back a touch from recent fresh all-time highs, but with near-term support possible around 11500. The 2015 uptrend holds true with support around 11400. Daily RSI overbought.
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 retracing its Monday bounce with potential for Friday’s post US Jobs and rate hike fear lows to be revisited. The fallback from early-month all-time highs persist. Daily RSI broken below rising 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.
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Gold’s break below the 3-month trend of rising support show no sign of slowing up, with the yellow metal back in a clear declining channel decline. Daily RSI 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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