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Major Support & Resistance (pivot points – explained):
Pivot Point: 6580; Support 1, 2 & 3: 6552, 6523, 6495; Resistance 1, 2 & 3: 6610, 6637, 6667
The test of 6600 overnight was brief but showed appetite for a break higher helped by US optimism (monetary policy, economic data). This was quickly undone, however, by the tech sector hammering home its influence thanks to IBM and Google taking the shine off things with disappointing earnings after hours.
While 6500 remains firm support, 6550 may still need to prove itself before any rebound. If we try higher, rising 5-day resistance at 6620 needs to be overcome, as does the more significant falling resistance from end-Feb lurking around 6650. Only a break of this would allow us look to the next round number 6700. Could the banks (MS and GS today) help out? Happy Easter!
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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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