Clive Lambert, Director at FuturesTechs, joined us on the Tip TV Finance Show to offer the technical outlook for DAX, Euro Stoxx 50, Dow Jones, Brent oil, and gold prices. Interviewed by Zak Mir, Technical Analyst at Zak’s Traders Cafe.
Highlights:
“DAX broke a downtrend line when it gapped higher on Monday. Rewind to turn of the year.. when the index gapped lower. The gap was filled yesterday. 10,700 if breached then we go to 61.8% Fibo at 11,000.”
“Euro Stoxx 50 – a lot weaker looking chart in general. The index still 8-10% away from the gap seen in January. Formidable band of resistance between 3050-3130..far from out of woods and could underperform Germany’s DAX.“
“Dow Jones – Don’t sell the quiet market”
“Brent crude - Fibo resistance at $45.80, needs to be breached for further rally.”
“Gold – lot of resistance around the $1380-1390.. if we get to $1400 handle.. then there is scope for $1485.”