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Equity markets are on the back foot this morning, consolidating some of last week’s strong gains as the realism of Greek financial woes returns and negotiations with creditors continue/step up a gear as the nation edges ever closer to a cash crunch. Gold is firm after last week’s gains on dovish Fed rhetoric.
UK 100 is trading back from fresh all-time highs, testing the 6995 key level which it finally managed to overcome to join global peers in navigating clear water above 7000 on Friday. Should the level fail to hold, 6950 could offer help with 3 days with of trading activity there mid-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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While Germany’s DAX trades back below 12000 the index maintains its 2015 uptrend with rising support from mid-February and the 20-day moving average around 11800. Will the trend remain your friend or should we beware falling highs from 16 March?
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 continues its northerly meander, edging back towards the early month all-time highs, helped by the weaker USD and receding fears of an imminent Fed rate rise.
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 has managed to hold its break-out from the confines of a falling 2-month channel. Helped by weaker USD, bargain hunting and short-covering. Could a new uptrend and recovery be in the making? Will the yellow metal shine again?
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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