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Equity markets are rallying as if a surprise US election result was never anything worth worrying about. Swift reassessment of a Trump win has produced bullishness about a more acceptable Presidential character rising from ashes of highly controversial fires, lit and stoked only to turn underappreciated disillusion among the US electorate into game-changing votes. Hopes that fresh spending plans and attractive tax cuts will foster growth and inflation, so the Fed can proceed with policy normalisation, is helping investors to keep focus on the positives.
The UK 100 is off its highs, back testing rising support at 6960. Bounce or breakdown? The DAX 30 has found resistance at its 10800 channel ceiling. Retrace or just a pause before another push higher? Dow Jones Futures are trading fresh all-time highs above 18700. Period. Gold is off its rising channel highs of $1292 as equities push higher and safehaven demand eases.
The UK 100 is off its highs, back testing rising support at 6960. Bounce and on to all-time highs of 7100 or breakdown and return to election jitter lows?
Watch levels: Bullish 7005, Bearish 6840
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 DAX 30 has found resistance at its 10800 channel ceiling. Retrace or just a pause before a breakout and second leg higher?
Watch levels: Bullish 10760, Bearish 10700
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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Dow Jones Futures are trading fresh all-time highs above 18700.
Watch levels: Bullish 18775, Bearish 18690
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 is off its rising channel highs of $1292 as equities push higher and safehaven demand eases. Back down to $1270 support, again?
Watch levels: Bullish $1287, Bearish $1281
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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