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Equities are skulking around breakeven, having retreated from this morning’s best levels and still deciding where to go next. The UK 100 has given up early gains despite GBP continuing to pull back from yesterday’s strong rally, the index hindered by a Pearson profits warning and weakness among Miners and Financials overpowering fresh strength among defensives. The DAX sees a mix of weak financials and manufacturers in a tug-o’-war with gains for utilities, healthcare and defensives. Wall St awaits a fresh catalyst after losses among financials dragged it lower last night, despite positive sector results, as investors get concerned about how successful Trump will be in reducing sector regulation.
The UK 100 has given up early gains to re-test overnight support at 7215. Bounce or breakdown? The DAX 30 has seen its bounce falter at 11600 to add to a 1-week trend of falling highs. New falling channel? Dow Jones Futures trade an ever-tightening range into 19800, in a downtrend since its extended flirt with 20,000. Break higher or lower? Gold has found support at $1210, but is hindered by today’s Dollar bounce. Pause of 2017 rally, or set to correct further?
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The UK 100 has given up early gains to re-test overnight support at 7215. Support before another rally, or pause before another breakdown?
Watch levels: Bullish 7240, Bearish 7210
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 seen its bounce falter at 11600 to add to a 1-week trend of falling highs. New falling channel? Back to the support at 11425?
Watch levels: Bullish 11570, 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.
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Dow Jones Futures trade an ever-tightening range into 19800, in a downtrend since its extended flirt with 20,000. Will it ultimately break higher or lower?
Watch levels: Bullish 19835, Bearish 19810
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 found support at $1210, but is hindered by today’s Dollar bounce. Pause of 2017 rally, or set to correct further? Note RSI uptrend, but turned down from overbought.
Watch levels: Bullish $1216, Bearish $1209
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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