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Major Support & Resistance (pivot points – explained):
Pivot Point: 6840; Support 1, 2 & 3: 6822, 6808, 6790; Resistance 1, 2 & 3: 6854, 6872, 6886
Yesterday’s early lows of 6830 held up but progress above 6850 was limited and this morning’s fresh attempt has seen the level prove a hurdle yet again. This is despite the bulls sending S&P500 and DAX to fresh all-time highs on better economic data and hopes of further stimulus.
The long-term uptrend is solid, but the recent sideways move means daily momentum remains negative and hourly RSI around neutral having fallen from close to overbought. The rising lows of yesterday are now at 6835, with additional support from recent lows of 6830. A break of 6860 needed to see 6900, while 6830 needs to give way to see 6795.
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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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