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Equity markets are relatively flat this morning as global indices cheered European Central Bank President, Mario Draghi’s, commitment to commence asset purchases and maintain low interest rates. The German DAX 30 continued its record breaking run by surpassing 11,500pts for the first time ever as Draghi boasted a recovering Eurozone economy. Whilst the UK 100 was pushed higher with only 19 of its constituents finishing the day in negative territory. Commodity prices experienced a somewhat subdued session, gold hovered around the $1200 mark whilst US Light crude and Brent traded steady at $50 and $60 respectively.
The UK 100 trading off its all-time highs with support likely around 6942. Another attempt at a new all-time high could come this afternoon with the US non-farm payrolls due for release. The RSI is also in decline.
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 made another all-time high yesterday breaking 11500 after ECB president Mario Draghi’s comments. Short term support has been found around the 50-day moving average whilst resistance made be found at yesterdays record high. The RSI is declining from overbought.
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 continues to fall back from all-time with support likely at the 200 day moving average. This afternoon’s Non-far payroll data release could add some extra volatility with all time highs still well within touching distance.
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’s continuing its decline with the precious metal now trading back below $1200 and also below all of its major moving averages with support likely around 1194, whilst resistance could come at the 50 day moving average around 1200. The RSI is also declining.
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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