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Markets are positive again this morning after another session of all time highs in the States have give us a lift. The Dow Jones Industrial Average pushed through 18,000pts for the first time ever after GDP data from the US confirmed the world’s largest economy grew at the fastest pace in 11 years. GDP expanded at a 5% annual rate in Q3, smashing the previous government estimate of 3.9% and the median forecast of 4.3%.
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The UK’s UK 100 has managed to stay above 6600 this morning with resistance still tricky at 6640, a break of which could see the UK 100 push back up towards Dec highs. Support could hold around the 50 day moving average at 6603, whilst the RSI is rising towards overbought.
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 is still find it tough to maintain a firm break of 9900 with resistance holding firm at 9940. Support could come at the 50 day moving average around 9894. The RSI is declining.
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 registered another all-time high yesterday as it broke above 18000 for the first time ever. support may come into play around 18000 now and then again around the 50 day moving average at 17966. The RSI, however, is now falling after breaking from overbought.
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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Spot Gold is still struggling, although it has bounced from yesterday’s low. The RSI is still rising after a breakout of 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.
Click here for help with Support & Resistance Click here for help with technicals
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