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Equity markets are mixed this morning as all eyes rest firmly on the US Fed meeting with Yellen set to talk to the press later today. Sceptics cite many reasons not to raise rates but sentiment nonetheless favours a June hike, arguably already priced in to a meaty USD. Germany’s Dax has relented, while the UK Index and Wall St. indices are trying to push higher. Gold recovering slightly on mild US uncertainty.
UK 100 is landing jab after jab on key resistance level 6860 this morning, a break above which could see it revert to support and put the index back in its late Feb / early March sideways range.
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 has encountered another resistance level 12038 and continues to slide back towards springboard support 11750, which helped it make all time highs last week.
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 struggling this morning to recover yesterday’s losses ahead of the Fed meeting. A downwards slopping March resistance line providing a significant hurdle to progress back towards all time highs. A big move to come this evening, perhaps?
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 trading trading at March lows today at the bottom of a week long falling channel. Due another fall off below support 1146? or a recovery towards 1160?
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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