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: 6428; Support: 6396, 6352, 6320; Resistance: 6473, 6505, 6549
Yesterday’s foray below 6400 was a worry at the time, but rebound and subsequent rising lows and support at 6440 is a good sign, especially if we can break back above 6460. That’s not to say all will be well if we do. There are many hurdles ahead, due to the the 300pts we have given up since mid-month, and of course political headwinds.
Both parties digging their heels in on the US budget (unlike the comparative nimbleness of Italian politics with what is been referred to as the Berlusconi back–flip and survival of PM Letta’s coalition; that’s the way to avoid disaster), however, it would appear focus on US sovereign default being a no no, but the budget impasse just buying time for risk appetite with tapering being kicked further into the future. We must be into 2014 by now.
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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