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Equity markets unable to build on yesterday’s bullishness, now trading negative ahead of this evenings latest update on US monetary policy thinking (Fed FMOC minutes) and with mixed messages about Greece and its never ending debt negotiations. UK Index still struggling to get much above 7010, DAX just about holding 11800 after breakout, Wall St losing momentum after making new highs and Gold still suffering from stronger USD and absence of panic driven demand for the safehaven.
UK 100 still sideways since late last week, unable to make much headway on its forays above 7000. Uptrend from 7 May intact but yet to better the falling highs from mid-April. Uptrend from mid-December unperturbed. Consolidation?
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 holding its breakout from the April downtrend. Bounce off October rising support made it as far as 50-day MA. Pause before another upleg?
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 taking a breather from fresh all-time highs. Watch for breakout at 18200 to become support. Daily topped out? Uptrend from 7 May intact, albeit very steep.
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 having a break amid its USD strength driven pull-back from multi-month highs. With prior support 1210 serving as resistance, watch for another leg down. Back Testing 100- and 200-day MAs. Uptrend from mid-March valid.
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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