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Equities on the up again today despite another Asian PMI Manufacturing disappointment, this time from Japan. While slower exports from weaker Chinese demand adds weight to market (and Central Bank) concerns, it is nonetheless failing to scupper the equities recovery from recent lows. A host of US data this afternoon and a speech by Fed Chair Yellen tonight could yet spice things up in the run up to a market-moving US GDP update tomorrow and a raft of China data next week.
UK Index holding above 6000, testing 6050. Bullish flag? DAX finding 9700 upside a struggle. Wall St. maintaining 3-week 16200 support. Gold having another go towards $1140-1145 September highs.
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UK 100 trying to breakout from a bullish flag pattern which has potential upside to 6175. Holding support at 6000 since yesterday.
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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 tried 9700 this morning, but struggling to breakout. Watch for a break below 9600 to continue downtrend from last week.
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 trend of falling highs from last week while support at 16200 is holding up well. Breakout towards 16800? Still potential for breakdown to complete bearish head & shoulders top pattern (down to 15400?).
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 bounce from $1122 on track for revisit of last week’s $1142 highs.
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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