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Equities are handsomely positive this morning, with the DAX outperforming thanks to a breakout to its best since July 2015 while Wall St looks like it has potential to try for the magic 20,000 record high that has eluded it for so long.
The UK’S UK Index is being driven by Banks (hopes of US sector deregulation), Healthcare, Oil, Tobacco, Telecoms (BT bounce) and Building (CRH, AHT; Trump spending) countering hindrance from Vodafone and most of the Miners (ex-ANTO) who are hurting from a stronger GBP and metals prices of their best levels.
Germany’s DAX is outperforming despite EUR strength as up as Banks (US sector optimism, DBK to IPO asset management arm), Industrials and Autos push it north for a second day to fend off minimal drag from Utilities.
The UK 100 has retreated to test 7160 rising support after a fake-out to 7200. The DAX 30 has broken above 11700 to make fresh 18-month highs. Can it join the Dow back at the highs? Dow Jones Futures look headed for another attempt at 20,000. Gold has dropped back to flirt with $1200, a breach of which could mean a bearish double-top back to $1180.
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The UK 100 has retreated to test 7160 rising support after a fakeout to 7200. Still potential for this to be a bullish ascending triangle bottom pattern that reverses the recent downtrend.
Watch levels: Bullish 7185, Bearish 7155
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 broken above 11700 to make fresh 18-month highs. Can it join the Dow back at the highs?
Watch levels: Bullish 11760, Bearish 11715
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 look headed for another attempt at 20,000. Will they be successful this time? Or will we see another failure and retreat? RSI rebounded to overbought.
Watch levels: Bullish 19985, 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 has broken its uptrend and dropped back to flirt with $1200. A breach of this could mean a bearish double-top and pull-back to $1180. Bounce to $1205 already found resistance.
Watch levels: Bullish $1206, Bearish $1202
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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