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Markets have started higher this morning following a flat close across the board yesterday. Positive sentiment for the UK 100 was helped by comments from the BoE’s Andy Haldane who reiterated that any interest rate rises would be limited and gradual and that they could peek well below prior levels. On the macro front we have UK GDP this morning before a barrage of US data ahead of tomorrow’s Thanksgiving Holiday.
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The UK’s UK 100 continues to build on its 5 week uptrend with 6900 still a realistic target. Support still looks likely at the 200 day moving average, whilst resistance could come around 6800. The RSI trading sideways just shy of the overbought 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 is trading at 4 1/2 month highs this morning as it looks to target 10000. With relatively little resistance in the between now and 10000 the DAX could be set to register new all-time highs soon. The RSI is continuing to rise further into overbought territory.
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
US Dow Jones still has 18000 in its sights although resistance seems to be developing around 17870, whilst support looks to be coming at the 50 day moving average. A break above 17870 could see the Dow register yet another all-time high and give it a push to break into the 18000’s.
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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