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Equity markets selling off this morning, spooked by mixed corporate earnings reports that continue to warn about a difficult Q3 ahead and seemingly unimpressed by receding Greek worries after Athenian Lawmakers approved a second round of reform measures to secure a third bailout package.
UK 100 pulling back beneath yesterday’s close 6677, DAX30 giving up early gains to re-test support around 11,500 and Dow Jones flat as it flounders around resistance 17,890. Gold rebounding strongly as the Dollar Basket engages in a mid-morning selloff.
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UK 100 heading south in what could be completion of a bearish flag pattern with eventual support around 6,600. Note break below 50-day MA.
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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 testing support at 11, 520 having broken out of a 3.5-month falling channel. Part two of the rally back to all-time highs to come?
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 trading near the floor of a 1-week sideways channel, resistance 17,910 proving a stiff hurdle for a recovery with resistance at falling highs since late on July 21st adding pressure.
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’s downtrend continues though the yellow metal is recovering from its worst levels having found support at rising lows from Wednesday, helped by a USD selloff this morning.
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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