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Equity markets continue to tread water this morning in what may be described as a carbon copy of yesterday’s early trading as investors await important macro data in the form of US GDP and the FOMC meeting minutes due for release this evening. Gold remains buoyed by a weaker and weakening US Dollar index that has now breached briefly found support just below previous 1-month lows.
UK 100 is back in its 2-week sideways range with the index trapped in a falling channel towards its lower bound around 6980.
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 also largely sideways although support at rising lows, near which the benchmark is currently trading, is gently lifting the index towards mid-point resistance around 12050.
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 trading at the upper bound of its range this morning with a little help from potential support at 18100 (yet to be properly confirmed) and a general week-long uptrend. Still having difficulty breaking out of its channel though with no big move to be expected before the GDP print and/or FOMC minutes.
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
Gold has come back from yesterday’s highs around $1215 having staged an impressive breakout from the confines of its downwards sloping trading channel yesterday. Currently testing support that could put the yellow metal back into its sideways range and another journey south towards $1175.
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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