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Major Support & Resistance (pivot points – explained):
Pivot Point: 6857; Support 1, 2 & 3: 6837, 6800, 6780; Resistance 1, 2 & 3: 6894, 6914, 6951
Equities are showing remarkable resilience shrugging off the geopolitics of Eastern Europe and, it would appear, banking on softer Chinese data making it a given that Beijing weighs in with another batch of stimulus to keep the slowing world #2 economy growing in-line with its targets.
Now above 6840 we look to 6886 highs of Feb and all-time highs of 6950 allowing the index to finally join its US peers making new records. The 1-month chart shows rising support around 6840, which corresponds with and reinforces the likelihood that the breached level reverts to support. Note, however, the 3-month chart RSI coming back from overbought and daily momentum having made a lower high.
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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
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
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
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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