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Equity markets are pausing at highs this morning with the UK 100 nearing its previous record and Germany’s DAX having broken through its own to trade at all-time highs, helped by energy stocks and a happy Euro area after Greece managed to pay off €450M worth of debt. The IMF and fellow creditors are worried that a budding Greek friendship with Russia could drive the wedge between the indebted nation and its Eurozone partners even deeper, which could hold markets back into the weekend. The US Dow Jones is still struggling to make its way North of pretty solid resistance at 17980 as a surging Dollar Basket powers upwards putting surprisingly little pressure on a Gold price rebound as it does so.
UK 100 is again moving sideways just short of all-time highs 7065, testing resistance at 7048. The index is in an April uptrend, and the last time UK 100 broke through all-time highs was on a Friday afternoon…
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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 at new all-time highs having popped out of its April bullish ascending triangle and on to surpass its prior record 12214.
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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The US Dow Jones is, in somewhat of a reversal of fortunes, crawling upwards at a considerably slower pace than its global peers having been overtaken by the UK Index and held back by a rampaging dollar. Slow and steady wins the race?!
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 is staging an impressive recovery off solid support at $1193 this morning, getting itself back above $1200 after falling on a strong US Dollar yesterday. Currently trading around support at $1202.
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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