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Equities are up this morning with good news coming from the Eurozone in the form of a seemingly imminent bailout extension deal, and from the US with Yellen’s tones being largely taken as dovish (Or was it hawkish?!). Gold around the $1210 mark on a strong USD, hopes of stability in Europe and a week of weak demand behind it. Let’s see what China’s return to the table brings.
The UK Index remains in its February uptrend having tickled recent highs 6960 again yesterday. Still largely sideways, however, while we note rising Feb support may be the trampoline the index needs for a further bounce upwards.
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 again trending sideways since yesterday after bereaking above resistance at 11150 and steaming up to test resistance at 11231. Potential for a breakout to all-time highs still a possibility as the index edges down towards a new trend line of rising support.
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
The US Dow Jones is still floating just shy of all-time highs, still in a February uptrend and still yet to make a decisive break out from its 2-month sideways channel.
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 remains in a downtrend from Jan highs but has tested the ceiling of its falling channel this morning. The metal is dancing around 3-month rising support and a horizontal support level $1190, which could work together to produce a bounce.
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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