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Equity markets flat this morning as we await the presentation of a Greek bailout proposal slated for later today with UK 100 testing the waters north of 7000 yet again, DAX flat yet flirting (similarly to its UK counterpart) with volatility and Wall St. cautious at the start of Non-Farms week in the US. All eyes absolutely focused on what Athens will put in front of creditors with market jitters likely to continue until that happens. Gold has bounced off support this morning as cracks begin to appear in investors’ risk appetite.
UK 100 is in the midst of a 2-month consolidation pattern this morning, treading water just below the bugbear 7000 level with rising support in the form of the 100-day moving average and 2015 rising lows. Greek bailout talks the overbearing factor as we move further into the day.
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Possible support
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Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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Germany’s DAX is falling through support around 11400 towards 11340 backup which could confirm a trend of rising lows through May and provide a little help in a recovery not without further significant hurdles.
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.
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US Dow Jones still supported by rising lows since Feb 2015 giving a bullish mid-term outlook despite last week’s (and arguably this morning’s) jitters surrounding Greece. 18200 the key level here, with two ultimately doomed tests thus far both nonetheless breaking record highs for the index.
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.
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Gold still sideways, not far off where it was at the time of the last publication but having been on somewhat of a ride over the weekend. Support just above $1185 in the form of Eurozone concerns and a strengthening USD capping gains just above $1190.
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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