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Equity markets struggling this morning with Wall St. futures the outperformer while European peers UK 100 and the DAX are languishing in the red. The muted morning comes with European bourses seemingly more worried about a US rate hike than they are welcoming of more dovish rhetoric from ECB president Mario Draghi, and amid renewed pressure (as if it weren’t enough already) on commodities as the USD basket breaks out of the jaws of hitherto bearish technicals.
UK 100 still holding above 6250, DAX looking to be a victim of 4-days of falling highs and Wall St. still in a downtrend since 4 Nov with 17690 being tested as support. Gold just doing nothing.
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UK 100 ‘s breakout of yesterday looks to have been more of a fakeout with the index back within its week long falling channel, though 6250 proving a stiff challenge to the bears thus far.
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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Germany’s DAX a victim of 4-days of falling highs although the index remains above shallow rising support which maintains the 6-week uptrend.
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 futures still in a 1-week falling channel although 17700 has held up well since yesterday. Continued consolidation or continuing to turn over?
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
Gold simply sideways as we await more clarity from the ECB / US Fed and the resultant reaction by the dollar and risk appetite. Still oversold on daily chart.
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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