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Equities higher this morning, building on yesterday’s gains following a positive session in Asia overnight. Fear appears to be receding about a potential rate rise being announced at tomorrow’s Fed policy update after much debate over whether the recent risk-off mentality had become an overcrowded trade. Another sharp rise by Chinese equities towards the session-end (thanks to intervention) has also boosted risk appetite despite global growth concerns remaining very much to the fore.
UK Index rallied back above recently breached trend-line of rising support, to keep uptrend alive, but required progress above 6200 remains elusive. Dax broken out from falling channel to trade back around 10300. Dow 3-week uptrend intact with potential for breakout from bullish ascending triangle. Gold traded out from late Aug downtrend, but merely to move sideways $1105-1110.
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UK 100 back above recently breached trend-line of rising lows from Aug 25. This keeps uptrend on track, but progress above 6200 resistance remains to be seen this morning.
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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 broken out of falling channel, with the ceiling turning supportive. Uptrend revived, but a hurdle in Sept 10 highs already found at 10340.
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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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US Dow Jones futures trading close to recent highs. Breakout or retrace? Support around 16600 overnight. Bullish ascending triangle?
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 moved out from downtrend, but merely to move sideways below $1110. Rising lows from 11 Sept could result in breakout above $1110, reviving uptrend from late July.
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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