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Equities have started the week on the back foot, investors concerned about Wednesday’s OPEC meeting being a waste of time and next Sunday’s Italian referendum having potential to send shivers through Europe’s banking sector. Energy and Banks are thus weighing on the UK Index this morning, although a surge in metals prices (thanks to a weak USD) and positive China data is helping, while an oil price bounce has helped it rebound from its lows. Note Germany’s DAX being held back by a mix of Banks, Airlines, Autos and big Industrials.
After a poor start the UK 100 has rebounded close to 6840 overnight highs. The DAX 30 has bounced from 10580 lows to remain within its sideways channel. Dow Jones Futures eased back from all-time highs but already found support at 19100 to keep the post-Election uptrend alive. Gold has dropped back from rebound highs and broken below $1191 in what looks like be a bearish-double top back to rising support.
After a poor start the UK 100 has rebounded close to 6840 overnight highs.
Watch levels: Bullish 6860, Bearish 6810
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 has bounced from 10580 lows to remain within its sideways channel.
Watch levels: Bullish 10665, Bearish 10570
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
The Dow Jones Futures have eased back from all-time highs, but already found support at 19100 to keep the post-Election uptrend alive.
Watch levels: Bullish 19145, Bearish 19075
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 has dropped back from rebound highs and broken below $1191 in what looks like be a bearish-double top back to rising support.
Watch levels: Bullish $1192, Bearish $1188
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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