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Equities are back from recent highs this morning showing mild fatigue after a data-heavy week. US Fed chatter again swinging into hawkish territory, seemingly followed by our own BoE and angry German sentiment as the Greek government tests the patience of its peers have conspired to halt the Indices’ march northwards today. Gold back down around $1205 on a strong USD and hopes that Eurogroup squabbling won’t result in a significant falling out.
UK Index ‘s February uptrend has lost some steam this week following yesterdays third test of all-time highs. We note potential formation of a bullish ascending triangle pattern that could fuel a (decisive?) break to the upside.
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 continues to hold above its trend-line of 2015 rising support, with step changes over the last six sessions. Currently trading just shy of all-time highs 11355, having eked out new highs every couple of days since 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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The US Dow Jones is also trading close to all-time highs 18242, but after trending sideways in a tight range around 18200 for two sessions, it would appear that some momentum has bee lost.
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 may have fallen back from $1220 but is holding above the key $1200 level, keeping it above rising support from early Nov and suggests an exit from the previously restrictive 2-month down 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
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