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Equity markets are mixed this morning with UK 100 back from yesterday’s Oil M&A highs and held in no mans land by worries of a Greek debt default despite the government making its April IMF payment deadline. Markets also concerned about a budding relationship between Alexis Tsipras and Vladimir Putin driving a bigger wedge between Greece and the Eurozone. Germany’s DAX is going for it, however, on a bigger than expected increase in its trade balance and encouraging industrial production data showing a month on month improvement. The US Dow Jones has posted a volatile couple of days and is down this morning as investors were kept guessing yet again by yesterday’s FOMC minutes. Gold is continuing to slide, weighed on by a strengthening dollar basket and weak demand in Asia with investment pouring into Hong Kong’s Hang Seng index instead of the safe haven commodity.
UK 100 is back from yesterday’s April highs to trade flat 30 points below key resistance around 7000.
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Possible support
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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 heading into the apex of an April bullish ascending triangle pattern that could see it break out above resistance around 12130 and move on upwards, turning a sideways channel into an uptrend.
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 continuing to find a hitherto elusive direction, now testing 17850 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 is still trading sideways having closed the gap and continued South and finding tentative, sub-$1200 support around $1190.
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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