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Markets have started the week with a mixed open after Friday’s rally helped regain some of the losses sustained throughout last week. Traders will be hoping for slightly calmer markets this week with the same headlines as last week continuing to be in focus. A quiet day for macro data today will put more emphasis on corporate earnings with tech heavyweights Apple and IBM reporting their numbers after the bell tonight.
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The UK’s UK 100 is once again on the back foot this morning after Friday’s rally. Support could come in at 6267 and 6215 whilst resistance on the upside could be seen at 6362 and 6414. The RSI has begun to turn after its upward move from 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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Germany’s DAX has found resistance once again at 8900, a level that could prove difficult to break. However, a break of this level could see the DAX head back towards 9200. Support may come around 8700 and 8500.
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 looks set to continue eating into those losses sustained last week by heading for a higher open today. However, resistance was met at 16500 again this morning, a level that could be key. A break of this level could see a test of the 200 day moving average around 16700 with support to the downside likely around 16000.
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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