This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Major Support & Resistance (pivot points – explained):
Pivot Point: 6656; Support 1, 2 & 3: 6625, 6577, 6546; Resistance 1, 2 & 3: 6705, 6735, 6783
The pause for breath overnight was just that and this morning has seen a resumption of the uptrend to go and test the 6700 level last seen a month ago. US taper-supportive data and China’s PBOC acting on the cash crunch have helped maintain bullish sentiment. Lighter volumes are sure to be helping the Santa Rally and making sure December closes positive, so beware of the possibility of a correction especially following gains of nearly 5% in just over a week, but a revisit of the 6820 end-October high is certainly not out of the question around the new year.
That’s all from me for a couple of days. The next UK 100 Focus will be on Friday. Enjoy the festive break.
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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