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Equity markets are in the green this morning, tracking an Asian recovery of sorts amid continued assurances from Beijing that it will continue to monitor the economy and administer treatment where required. UK resource / mining stocks, however, are yet to catch a bid from stabilisation in commodity prices on that news and the slowly weakening US Dollar.
UK 100 is still supported by two moving averages within its late August rising channel, DAX maintains rising support since late-Sept, Wall St is making good progress towards either December falling highs (still over 100pts away) or the ceiling of its sideways range 17900 and Gold is heading up towards resistance, with a breakout unlikely since risk appetite is somewhat up this morning.
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UK 100 ‘s bounce from mid-Dec lows has resumed with the index firmly back inside late Aug rising channel, supported by 50- and 100-day MAs.
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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 also continuing to trend up through December with the 200-day MA a hindrance this morning. A break above puts medium-term resistance in form of April falling highs 500pts away.
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 are pushing on towards the ceiling of their 2-month sideways range after the 200-day MA provided support on a volatile Monday. Daily RSI back in positive territory, again…
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 still sideways, although falling highs resistance is still active. Gains today despite a little renewed risk appetite with USD underperforming and technicals looking neutral to bullish.
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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