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European equity markets are higher this morning adding to last week’s strong gains, which can be attributed to SNB-fuelled anticipation of the ECB delivering on expectations of further stimulus in the form of sovereign QE to support the struggling Eurozone region coupled with a strong US data which revived confidence on global growth. Note US markets close early today for Martin Luthur King day.
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The UK’s UK 100 ‘s traded at a 3 week high overnight before selling off to prior resistance turned support. Further support is likely at the 100 day moving average whilst the RSI is rising after bouncing from oversold.
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 recorded another all time high overnight breaking 10300 for the first time. This came after Friday’s confirmed break of a bullish flag pattern. Support may come around the 100 day moving average whilst the RSI has found support at the oversold level.
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 is rising from last weeks lows, however, it is finding it difficult to reach the highs of early last week around 18000. The 100 day moving average has broken above the 200 day moving average whilst the RSI is also rising.
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
Spot Gold traded at a 4 month high overnight breaking above the 200 day moving average. The 50 day moving average has broken above the 100 day moving average with the RSI trading 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
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