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Markets are higher this morning having recovered from lows of 6124 overnight but demonstrating that volatility is still in play. Potential for a full retracement of the October/November rally amid recent global growth worries, Eurozone/Greek uncertainty, central bank policy divergence and collapsing oil prices. Gold off its lows of $1190 but remains held back by the round $1200 marker, hindered by USD resilience.
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The UK’s UK 100 traded at a fresh 2 month low yesterday before regaining nearly 100 points as the downtrend from last week continues. Resistance was met at the 50 day moving average whilst support could come around 6120. The RSI is still rising from oversold.
Solid Green line
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 trading at a fresh 4 week low this morning after breaking below prior support at 9300. The DAX could now be in line to head down towards 9160 as selling pressure mounts. The RSI is now in oversold territory.
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 found support at 17170 this morning with a break below possibly signalling a pull back towards 17000. Resistance may come in play at the 50 day moving average around 17316.
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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Spot Gold found some support around 1190 overnight with resistance possible at 1200. A break of which could see Gold move up towards its 200 day moving average around 1212. The RSI has moved out of oversold territory.
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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