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Equity markets are up this morning after yesterday evening’s dovish US Fed announcement on future rate rises. UK 100 still benefiting from George Osborne’s populist budget speech in which he cut the petroleum revenue tax among other measures that helped energy stocks. Germany’s DAX is flat as European ministers meet to discuss continuing Greek concerns while gold has dropped back on Yellen’s dovish chat.
UK 100 is holding up around recent fresh all-time highs. However, having been in this situation many times in recent years, we expect a decent break above 7000 necessary to instill serious excitement.
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 has remains in an uptrend from early Feb despite having given up all-time highs. The 11800 level looks as if it could become key.
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
The US Dow Jones is still trying to recover to recent all time highs following the selloff earlier 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.
Click here for help with Support & Resistance Click here for help with technicals
while Gold may have bounced off late-Nov lows $1142, it has been unable to stage a breakout from its falling 2-month channel with resistance holding around $1188. Further downside possible to early-November lows $1132, although note daily RSI having rebounded from 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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