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Equities are mixed this morning as investors digest a US rate hike and a more hawkish Fed outlook than expected despite uncertainty about a Trump presidency. Fresh USD strength and resulting GBP and EUR weakness normally helps internationally reliant names/exporters on both the UK Index and DAX. However, only the DAX is positive today, the UK Index hindered by a tug of war between Banks and Healthcare winning out over Miners and Defensives while Oil confounds (RDS up but BP down). Wall St futures are off their worst levels still within touching distance of 20,000. Santa rallies intact across the board despite a Fed surprise.
The UK 100 is sideways around 6940 yet to decide whether it wants to break higher or lower from a 2-day falling channel. The DAX 30 is back above 11300, meaning 11400 Nov 2015 highs (or better) could be back on the cards. Dow Jones Futures have bounced from an overnight Fed-inspired revisit of Monday’s 19750 lows. Gold was sent sharply lower last night by the Fed rate hike. Sideways $1135-1144 overnight.
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The UK 100 is sideways around 6940 yet to decide whether it wants to break higher or lower from a 2-day falling channel. Support at 6930 and long lower tails are bullish. Bullish flag back to 7065?
Watch levels: Bullish 6965, Bearish 6920
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 is back above 11300, meaning 11400 Nov 2015 highs (or better) could be back on the cards.
Watch levels: Bullish 11320, Bearish 11280
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 have bounced from an overnight Fed-inspired revisit of Mondays’s 19750 lows. Still within touching distance of fresh all-time highs and 20,000.
Watch levels: Bullish 19885, Bearish 19815
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 was sent sharply lower last night by the Fed rate hike (more expensive to hold as interest rates and USD strengthens). Sideways $1135-1144 overnight.
Watch levels: Bullish $1139, Bearish $1134
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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