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Equities are mixed this morning, with the benefits of a USD bounce waning and macro/micro factors weighing more heavily. Investors are eager to learn how fast US GDP grew in Q4 following Q3’s spike to a 2yr high as well as the outcome of a 6pm meeting between UK PM Theresa May and US President Trump. All this amid a wave of corporate reporting on both sides of the pond.
The UK’s UK 100 is positive thanks to optimism about Tesco’s latest purchase and a mix of $-sensitives helping offset weakness in Healthcare (sector in Trump’s crosshairs; US predators ignoring UK) and Financials, profits at investment bank UBS having halved. Germany’s DAX is in the red as financials and autos (build in Mexico, sell in the US) give up ground.
The UK 100 sits in a bearish descending triangle that could take it below 7130. The DAX 30 has tracked back to test yesterday’s 11800 breakout level for support. Dow Jones Futures have bounced off 20105 and could be in the midst of a bullish flag back to last night’s highs. Gold has found support at $1181 after completing its bearish double-top.
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The UK 100 sits in a bearish descending triangle that could take it below 7130. Note however, rising RSI support which equates to positive divergence with the price
Watch levels: Bullish 7185, Bearish 7145
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 tracked back to test yesterday’s 11800 breakout level for support. Bounce or breach?
Watch levels: Bullish 11830, Bearish 11795
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 have bounced off 20105 and could be in the midst of a bullish flag back to last night’s highs.
Watch levels: Bullish 20,125, Bearish 20,115
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 $1181 after completing its bearish double-top, waiting to decide whether it bounces or corrects further. Note the oversold RSI.
Watch levels: Bullish $1186, Bearish $1179
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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