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Equity markets levelled off this morning with the UK Index and Wall St. indices having staged impressive comebacks from recent declines and a rampaging Dax hitting a ceiling at all-time highs. The USD Index is back from highs of 10,000, continuing to offer some respite for commodities although demand for Gold remains low with more certainty than uncertainty in Europe and the US (Greece ELA increase, US rates & Dollar strength).
UK 100 hit resistance at 6800 having staged an impressive bounce off support at 6690. Recovery potential upon breakout to the upside.
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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 has fallen back from new all time highs made this week on the back of ECB QE. Still in an uptrend and with potential for a range bound few days’ trading to follow as the index shows little sign of heading back south in any big way.
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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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The US Dow Jones has hit resistance at 17900 after posting gains on Thursday to break out of its March downtrend. Previous falling highs yet to be confirmed as support while new 2-day rising lows more likely to help the index back to all time highs.
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 trading sideways after managing to find support at $1148 Wednesday. Still potential to challenge Dec lows of $1142 and Nov lows of $1132. Falling Jan channel continues. Daily RSI oversold, but could be primed to recover.
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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