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Equity markets trading around breakeven as they continue to digest Friday’s US Jobs report and its implications on the timing of a looming Fed rate rise. The Greek saga entering a new week is also serving to hold sentiment back, as is divergent interpretation of Asian data on central bank action (Japan good data bad for stimulus; China bad data good for stimulus). UK 100 holding around May lows 6800, DAX30 maintaining downtrend towards 11000, Wall St Futures found support around 17800 and Gold now held below $1180.
UK 100 languishing around recent lows after completion of bearish double-top pattern. 6800 to hold after sell-off, creating platform for bounce? Or merely a pause before retrace to 1 April lows 6670? Potential support from 200-day MA at 6772.
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Possible support
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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 broken May lows to trade 3-month lows, maintaining downtrend from mid-May and early April. With long-term rising support a thing of the past, watch for 200-day MA 10732 for next support.
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Possible support
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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 taking another breather amid sell-off from mid-May. Uptrend from early Feb now broken, but potential support from 200-day MA 17787.
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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Gold found support at $1160 but now potentially hindered by breached prior support $1180. Now trading in clear downtrend channel, courtesy of strong USD, with potential for a revisit of mid-march lows $1140.
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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