News & Analysis

Eightcap CFD technical insights 12/12/17

Dec 12, 2017 | CFD News

UK100 – we’ve seen two solid days of rallies, price has returned to a potential level of resistance. Buyers have beaten 7460 key level but a previous low remains at 7465. This level lines up with a last high made on the 28th of November. The CCI remains indifferent so we’re looking for how price reacts at this current position. We have a strong bull move that’s extended, can buyers continue though this potential  resistance, or will we see a short-term correction develop?

GER30 – after last weeks rally buyers looked to have hit a wall from 13,195 – 13,245. Since the 10th of November buyers haven’t been able to close above 13,195 setting up a range high. Momentum looks to be slowing for buyers, are we going to see a drop back into the range or to test the range low? A close above resets the bullish case.

USOUSD (OIL) – bulls have forged a strong move since price hit it’s December low, confirming a new tend point. Price is currently testing $58.30 high. If bulls continue we could see a new test of 58.93, the November and 2017 high. OPEC’s meeting looks to be having the desired effect on oils price for the moment.

Good Trading from Eightcap.

* The information provided here has been prepared by EightCap’s team of analysts. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and do not reflect the opinions of EightCap.

In addition to the disclaimer on our website, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. EightCap accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.

Please note that past performance is not a guarantee of or prediction of future performance. This communication must not be reproduced or further distributed without prior permission.

Follow Us