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: 6861; Support 1, 2 & 3: 6846, 6833, 6819; Resistance 1, 2 & 3: 6873, 6888, 6900
US bourses may be eking out fresh all-time highs, but the UK 100 refuses to play ball – not getting even close. It would appear that patience is required before London blue-chips have their time in the sun.
The narrow range of yesterday implies traders reticent to take on too much risk after upbeat Chinese data failed to inspire and ahead of the ECB update on Thursday (easing even more likely given the weak CPI just out for the region) and US Jobs report on Friday.
The index is back down near recent support at 6830, which could help with another venture towards recent highs. This is supported by daily momentum being back positive and the hourly RSI oversold. Note however, the trend of falling highs from end May which needs to be broken first.
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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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