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Equity markets are on the up this morning with the UK Index and Wall St. indices posting small gains after the weekend. The real star of the show, however, is Germany’s Dax which continues to storm Northwards and make new all-time highs. How much more fuel is in the engine?! Gold making a shallow recovery from 11-March 2015 lows, boosted by likelihood of Chinese economic stimulus but weighed down by the strong USD.
UK 100 continues its uptrend supported by rising lows from Dec 2014. Still some way off regaining all time highs and looking for a decisive breach of bugbear level 6800 to provide some ‘gentle persuasion’ for the index on its journey north.
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 is still on the up with an ever steepening gradient since October 2014 with the 20-day moving average supportive, some way above the 50-, 100- and 200-days and the only sign of an imminent pull-back being the RSI which sits firmly in overbought 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
The US Dow Jones has made a decent attempt at another recovery from March lows 17626 – after a failed one over the weekend – and we await a breach of resistance at 17900 to provide impetus for a reversal of trend that could see the index head back towards 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 trending sideways at the bottom of a longer term 3-month sideways channel, and off its 11-March lows. Looking for a break above $1166 to increase confidence in a significant recovery as investors await increased China demand.
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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