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Markets are slightly higher this morning after a lower close in the States as the Fed ended QE. Corporate earnings have also played their part in helping the market higher this morning. Questions will be asked as to when a rate hike will come. Maybe Janet Yellen will shed more light on the subject when she speaks this afternoon. A big day for macro data could add some volatility to the trading session.
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The UK’s UK 100 is still edging higher, albeit at a slower rate, after some strong corporate earnings gave the UK 100 an early lift. The UK 100 is trading right on its pivot point this morning with support likely at 6414 and resistance at 6473.
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 2 week upward trend, however, resistance is very close. A break above resistance at 9151 could give the Dax the momentum it needs to get back towards September highs. The RSI is still rising, heading up towards 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.
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The US Dow Jones took a brief pause for breath yesterday after the Fed announcement to end QE. However, this morning the futures on the Dow are pointing to a higher open, with the Dow now only 300 odd points off its all-time highs. Support may come in around the 50 day moving average at 16976 whilst resistance was met at 17066 overnight.
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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