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Equity markets are mixed this morning amid varying degrees of excitement about commodities (USD weakness) and oil (WTI, Brent criss-crossing). Volumes a lot lower for sure, being that it’s Christmas eve and today’s half day for European and US bourses will be heralding little opportunity for slow, steady gains. Much more likely, if anything, is a short sharp move in one direction or other. ‘Stability,’ therefore, not likely to remain part of the equation today.
UK 100 is still back resting on two moving averages within its late August rising channel, DAX and Wall St also consolidating after yesterday’s performances (note Dow Jones index has falling highs through December though) while Gold is holding above rising support.
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UK 100 ‘s bounce from mid-Dec lows has stalled on low volumes ahead of the Christmas break. Consolidation ahead of another quick leg up? or have we run out of time and momentum?
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 just below 17 Dec falling highs and flat thus far today. Again, blame those light volumes – both buying and selling. Daily RSI still just positive.
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 consolidating above their 200-day MA. Scope for another bullish flag completion? Daily RSI has now ticked up into positive territory…
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 is itself trending sideways this morning with potential for another leg higher following yesterday’s gains on USD weakness. Short term RSI is positive while the daily is neutral. Again, is there time?
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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