Morning view

A healthy start to European Indices, which are trading back up to levels which were important support levels broken through last week (now resistance levels). Its not unusual to see markets retracing back to key break out levels; so the key is can these indices hold these higher levels when the US markets open after their long Independence Day weekend…
Broadly, technical resistance exists at the 4900 level in the FTSE 100 Index and 5900 level in the Dax Index. All eyes on the US markets this afternoon..


About Simon Brown
Simon Brown has over 20 years experience trading Derivatives on everything from Gold, FTSE to Dollar/Pound. Simon has lectured in Trading Psychology, Strategy and Technical Analysis, in addition to regular appearances on CNBC television. He is now Managing Director of ProSpreads.

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