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Equity market rebound encountered technical resistance after optimism of Greek debt deal soon quashed and uncertainty took hold with quick-fire speculation continuing since yesterday afternoon. USD strength still hurting commodities. UK Index struggling with 7050, DAX with 11800 and Wall St with 18200. Gold seeing slight rebound from rising lows at $1185.
UK 100 failed again to better April falling highs at 7050 after rebound from 100-day MA got everyone excited.
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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 bounced from 11600 only to find resistance at 11800. Failure to regain 11900 just goes to narrow the current index range. May rising lows intact as is uptrend form mid-October.
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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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US Dow Jones found resistance at 18200 as expected before, like European peers, weakening back again, adding to trend of falling highs from 19 May. 2015 uptrend still valid, but no support before 17900.
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 found support at March rising lows, but gains still hindered contending strong USD and waning safehaven demand. Falling May highs at 1195 could cap any advances.
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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