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Equities are mixed this morning with the UK’S UK Index the standout performer, making fresh highs thanks to a strong US jobs report sending the USD higher and Brexit rhetoric from PM May sending the GBP lower, a recipe for Cable ( GBP/USD FX rate) that benefits the index’s internationally-focused names. The US Dow Jones remains so near and yet what seems so far from that landmark 20,000 mark as we edge towards the reality of a Trump presidency on Jan 20 and expectations of much stateside fiscal stimulus stateside. The German DAX is hindered by weakness in healthcare and airlines, failing to benefit from mild EUR weakness or a surprise jump in Eurozone Sentix investor confidence.
The UK 100 remains close to its all-time high of 7240, holding above support at 7213. The DAX 30 has backtracked from recent highs of 11640 but found support at 11530. Dow Jones Futures are holding above last week’s 11960 breakout after retreating from a very close shave with 20,000. Gold continues to bounce from Friday’s $1170 lows.
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The UK 100 remains close to its all-time high of 7240, holding above support at 7213. Pause or Time for more shallow gains like last week.
Watch levels: Bullish 7240, Bearish 7215
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 backtracked from recent highs of 11640 but found support at 11530. Bounce or breakdown?
Watch levels: Bullish 11575, Bearish 11525
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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Dow Jones Futures are holding above last week’s 11960 breakout after retreating from a very close shave with 20,000. Bounce to fresh highs?
Watch levels: Bullish 19980, Bearish 19960
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 bounce from Friday’s $1170 lows but has found some resistance via its 50-day moving average and 23.6% Fibonacci retracement of the declines from July’s peak.
Watch levels: Bullish $1179, Bearish $1175
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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