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Equity markets are positive this morning, as a perceived recovery continues following Monday’s flash crash. Encouraging news from the US Fed finally giving markets something other than ‘buy it ‘cos it’s cheap’ to bite on while China continues to engage in some wild volatility. Still, the developed world appears to be getting on with things.
UK 100 +2%, still fighting to make 6100 a solid support level, DAX storming ahead +256pts as the Euro comes back from YTD highs against the Dollar, helping the German benchmark index’s pool of exporters and Wall St. futures up 1% on dovish Fed chatter. Gold still buoyant on that US rate hike push-back, though not moving up much as investors get back into risk assets.
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UK 100 still testing that 6100 level within a possible bullish triangle pattern. Note, however, daily Momentum very, very negative.
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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 has broken out above 10165 resistance with the level now serving as support. Additional support in the form of 3 day rising lows.
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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US Dow Jones futures testing resistance 16500, a little calmer following yesterday’s multi-year record gains.
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 holding firm around $1125 with support at rising significant lows.
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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