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Equities markets embracing last night’s Fed rate hike, maintaining their recovery courses from December’s sell-off lows. The decision to raise rates for the first time following almost a decade of crises and unconventional policy measures is being welcomed as much for its end to uncertainty as its vote of confidence in US economic recovery. Has Yellen fired the starting pistol for a return to conventional policy and a delayed Santa Rally?
UK 100 rising recovery channel helped usher the index above 6150, but resistance may loom large. DAX also in rising channel, broken back above 10600 but already found resistance just shy of 10800. Wall St. rebound nearing prior resistance 17900. Gold fallen back from ceiling of narrowing pattern due to USD strengthen from rate hike.
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UK 100 rising channel seen it break back above 6150, however, proximity to to intersecting resistance between here and around 6170-6200 could hinder further gains after a near 5% rebound.
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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 rising channel found resistance just before 18000 after breaking back above 10600.
Solid Green line
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 rebound taken it back close to prior shallow falling highs at 17900. Can it break higher on confidence in US economic recovery, or will it retrace?
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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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Gold back from ceiling of narrowing pattern. Will we get another bounce of rising lows? As we near the apex, will we get a break up or down?
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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