Technical Analysis Weekly

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Technical Analysis WeeklyGermany 40, DailySPREADEX:GDAXISpreadexGermany 40 is testing the top of its sideways trend in a new impulsive phase that looks set to be followed by a breakout. Price is trading at 24,414, significantly above its VWAP of 23,744. The RSI at 66.4 indicates upward momentum. Support lies at 23,057 with resistance at 24,500. UK 100 has broken out with a fresh leg into record highs, continuing its bullish trajectory. Price is at 9,498, clearly above the VWAP at 9,282. The RSI at 72.4 shows strong momentum, in overbought territory. Support is at 9,072 and resistance aligns with the current price. Wall Street extends its bullish impulsive phase, reaching new record highs, currently at 46,863. VWAP is at 46,236, affirming the strong trend. The RSI at 71.9 shows overbought conditions. Support is at 45,637 while resistance is untested at these highs. Brent Crude remains in a neutral range phase, trading at 6,535 just below its VWAP of 6,680. The RSI at 43.0 suggests a lack of buying pressure. Support is at 6,394, while resistance is higher at 6,967. Gold continues its very strong bullish impulsive run with no signs yet of any major pullback, currently trading at 3,936 and well above its VWAP of 3,760. The RSI at 85.8 indicates extreme overbought conditions. Support lies at 3,576, while resistance is at the current high. EUR/USD remains range-bound in a neutral trend, trading at 1.1664, just below its VWAP of 1.1749. RSI at 42.7 suggests weakening momentum. Support is at 1.1664 with resistance at 1.1850. GBP/USD stays in a neutral trend and range phase, with price at 1.3422 and VWAP at 1.3491. RSI at 44.8 shows mildly bearish sentiment. Support is at 1.3331 and resistance at 1.3651. USD/JPY is attempting a breakout of its neutral range phase to set up a new uptrend, trading at 150.33 above its VWAP of 148.11. The RSI at 63.7 indicates bullish momentum building. Support is at 145.99, with resistance at the current level.