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Equity markets are attempting recovery this morning after posting losses in the second half of last week as uncertainty unfolded with conflict in Yemen and Greek woes in the Eurozone. Miners are dragging on the UK Index following heavy rains in Chile interfering with their activities there; Wall St. is doing well with investors confident that the Fed will do the right thing on rates; the DAX is up on car makers and associated sectors, and Gold is suffering on a strengthening US Dollar basket as we write.
UK 100 creeping back up towards Friday’s highs but we note a second bearish flag pattern in formation with the potential for another fall off.
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 staging a recovery towards possible resistance around 12082 which looks to be stalling things somewhat. A breach of this level would put it back on course towards all time highs 12221.
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 testing support-turned-resistance around 17868 as its own recovery runs into trouble. Note 100-period moving average, proving supportive of late, could help the index higher.
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 has stalled this morning with support at rising lows having turned to resistance as the yellow metal slid through $1200 late Friday and continues to fall back towards possible support around $1185 as the strong Dollar Basket weighs on prices.
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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