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Equities are mostly positive this morning as US Dollar weakness is helping a broad commodity space rally, however gains are being capped as reciprocal GBP/EUR weakness is holding back the UK Index ‘s buck-denominated earner’s and the export-heavy German DAX. UK supermarket industry data is providing a welcome boost to Retailers, reversing the sector’s negative start to 2017 and helping the UK Index to a fresh all-time high shortly after the market open whilst crude oil prices are finding some support, helping to stem downward pressure on indices following yesterday’s sharp sell-off. With a lack of macro data and speakers today, all eyes will be firmly focused on tomorrow’s upcoming ‘general news’ conference from Donald Trump for any indication of which potential policies will be pushed with only 10 days left until the President-elect’s inauguration.
The UK 100 is mounting a fresh challenge after posting an early all time high of 7262.9 having held steady above 7245. The DAX 30 has also pared early gains having touched 11605 to rest on one-month rising lows support of 11555. Dow Jones Futures remain rather flat, unable to overcome one week falling highs resistance at 19915 having retreated further from 20000. Gold has fallen back slightly after reaching a one month high above $1187 in the early hours of this morning.
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The UK 100 is mounting a fresh challenge after posting an early all time high of 7262.9 having held steady above 7245. Could fresh Sterling weakness see a 9th consecutive record closing high?
Watch levels: Bullish 7260, Bearish 7225
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 also pared early gains having touched 11605 to rest on one-month rising lows support of 11555. Could some Dollar strength provide bounce back to 11640 highs?
Watch levels: Bullish 11600, Bearish 11530
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 remain rather flat, unable to overcome one week falling highs resistance at 19915 having retreated further from 20000. Will they fail to overcome resistance or bounce back to highs?
Watch levels: Bullish 19935, Bearish 198700
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 fallen back slightly after reaching a one month high above $1187 in the early hours of this morning. Recovery from December lows remains intact.
Watch levels: Bullish $1188, 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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