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Equities markets are in the green this morning, suggesting contentment for the US Fed to raise rates at today’s meeting (7pm our time). This comes on the back of a very strong Asian session overnight. Thus far there appear to be no doubts concerning recent market volatility, while there nonetheless remains an outside chance that we may get a repeat of the ‘September swerve’. Outside at best, though.
UK 100 is holding above 6000, almost now officially sideways which is better than being in a downtrend. DAX has widened its Oct rising channel, which remains rising in nature with Monday’s bounce off support 10120. Wall St. still the out-performer, being naturally closest to its own central bank which appears to be giving the US economy a good bill of health. Gold is muted but holding firm above key support $1060, as investors there wait it out. Keep an eye on gold if it’s your thing – there could be big moves this evening and into tomorrow.
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UK 100 remains strong, having broken back above 6000. Can it make it back above resistance and turn it back to support? Note RSI is rising from oversold.
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 back on the up within a wide 2-month rising channel having broken above the 100-day MA. While support here is encouraging, note RSI still in bearish territory and flat.
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 has made a decisive break above its 200-day MA, quashing concerns about further downside indicated by yesterday’s bearish RSI. That now fighting to go positive, could another 300pts upside to long term resistance 17900 be on the cards this week? (Fed-dependent of course!)
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
Gold is testing $1066 having recovered from yesterday’s lows. 30-minute RSI is trending upwards in bullish territory, but a USD spike later on today could initiate a reversal and a move back beneath recent 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.
Click here for help with Support & Resistance Click here for help with technicals
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