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Equities are positive across the board as European trading closely echoes both the US and Asian sessions that preceded it. The crude oil price rally shows no signs of letting up, even with Iraq still proving to be the thorn in the side of OPEC Secretary General Barkindo, whilst continued optimism that President-elect Trump will implement an infrastructure-focused fiscal stimulus behemoth is helping metals (and subsequently Miners) to also rally. The UK’s UK 100 is outperforming its European peers as the Pound sharply weakens against the Euro and the Dollar, buoying its multinational corporate constituents. This comes as the UK Government reports its net debt to have increased by £51bn, despite an overall decrease in public sector net borrowing. Will this increase in debt prove to be the leash that holds back Chancellor Hammond’s proposed fiscal stimulus tomorrow?
The UK 100 is mounting a second challenge to breakout of its post election trading channel ceiling at 6850. The DAX 30 continues to trade sideways despite intersecting post-Brexit rising lows support at 10760. Dow Jones Futures are tailing off having continued to rally to 19030 after a fresh all-time high market close last night. Gold is trading virtually flat at $1217 as the US Dollar fluctuates in reaction to its European peers.
The UK 100 is mounting a second challenge to breakout from its post election trading channel ceiling at 6850. Will it fail once again or can it break through to head towards 6 week falling highs resistance?
Watch levels: Bullish 6855, Bearish 6851
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 continues to trade sideways despite intersecting post-Brexit rising lows support at 10670. Will it be able to challenge the 10800 trading channel ceiling once more?
Watch levels: Bullish 10805, Bearish 10600
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
Dow Jones Futures are tailing off having continued to rally to 19030 after a fresh all-time high market close last night. Will the index regain momentum or head back towards resistance turned support at 18760?
Watch levels: Bullish 19025, Bearish 18080
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
Gold is trading virtually flat at $1217 as the US Dollar fluctuates in reaction to its European peers. Will a stronger Dollar cause it fall to $1213 support?
Watch levels: Bullish $1232, Bearish $1210
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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