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Major Support & Resistance (pivot points – explained):
Pivot Point: 6871; Support 1, 2 & 3: 6854, 6836, 6819; Resistance 1, 2 & 3: 6889, 6905, 6924
After a brief test of Feb highs last night, and a slightly negative opening the index is already back trading at levels last seen at the end of the last century and almost at the 6900 level as bulls remain focused on getting the UK flagship to its all-time highs of 6950 and the top of the 10-month rising channel.
Stimulus hopes are outweighing geopolitical worries, and the rising lows of the last month are very much intact, offering support at 6870 this morning. Daily momentum is almost back at its own rising support and 3-month RSI still in upper half and thus bullish.
We asked yesterday if catalysts were lacking in order to get to all-time highs, but after a weak French GDP print this morning (Germany beat, naturally) could speculation of ECB stimulus intensify with a weak GDP or CPI print for the region this morning?
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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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