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Equity markets are higher this morning after very strong results from Apple (AAPL) on record iPhone sales and Yahoo’s (YHOO) announcement that it would extract value via a tax-free spin-off of its 40% stake in Alibaba (BABA). This helped buoy market recovery sentiment from the day’s lows along with recent macro data pushing Fed rate hike expectations out yet further ahead of today’s Fed Statement.
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The UK’s UK 100 ‘s is continuing its 2 week uptrend. A break this morning below the 200 day moving average could signal some weakness with support possible around 6800. The 200 day moving average has broken above the 100 day moving average providing possible resistance at 6841. The RSI meanwhile has fallen into oversold 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.
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Germany’s DAX is continuing its 3 week uptrend, although it has fallen from the all time highs of earlier this week. The 100 day moving average has broken below the 50 day moving average, while the RSI is looking for support at 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.
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US Dow Jones is trading below all of its major moving averages this morning after touching a 2 week low yesterday. The moving averages could provide resistance on the upside while support could be a little way off, around 17260. The RSI is falling, heading towards oversold 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.
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Spot Gold is continuing along its rising trendline from the start of the year, although it has ran out of steam of late. Support could be provided by the 200 day moving average at 1285 while resistance is likely towards 1291. The RSI is rising after a bounce from 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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