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Equities are posting small gains amid thin intra-holiday trading that is maintaining the Santa Rally into year-end. The UK Index is boosted by higher oil prices supporting the commodities space, offsetting weakness among some big defensives, airlines (Airbus delivery problems) and real estate (rates to rise and prices to fall in 2017?). UK-focused financials are dragging, following Italian peers lower, as we await bailout updates from troublemaker Monte dei Paschi. The DAX is similarly weighed by financials and airlines, failing to benefit from a weaker EUR, all the while the DOW teases us with its proximity to 20,000.
The UK 100 has bounced to re-test yesterday’s highs of 7095. Can it break beyond 7100? DAX 30 support at 11470 maintains the pre-christmas uptrend, but a break above 11480 still eludes us. The Dow Jones Futures uptrend holds true, but falling highs are keeping us from 20,000. Gold continues to rebound. After clearing $1140, can it make it to $1150?
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The UK 100 has bounced to re-test yesterday’s highs of 7095. Can it break beyond 7100 to trouble 7135 all-time highs?
Watch levels: Bullish 7100, Bearish 7085
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 support at 11470 maintains the pre-christmas uptrend, but a break above 11480 still eludes us. Pause or topping out?
Watch levels: Bullish 11485, Bearish 11465
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 uptrend holds true, but falling highs are keeping us from 20,000.
Watch levels: Bullish 19980, Bearish 19955
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 continues to rebound. After clearing $1140, can it make it to $1150?
Watch levels: Bullish $1143, Bearish $1137
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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