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Major equity indices are positive today with the UK UK 100 outperforming thanks to GBP/USD weakness flattering the value components’ international profits. Miners may be hindering on account of weak metals prices (blame a strong USD) but Crude is holding up well to help the oil majors while Healthcare, Defensives and Financials all offer additional help.
GBP has fallen to fresh Feb lows on a weak PMI Services print but it is also pressured by a USD rebound in the run-up to a US Non-Farm Payrolls (NFP) jobs report that could surprise to the upside (ADP did on Weds), pressuring the Fed to hike again soon. Germany’s DAX is flat with EUR/USD holding up well and Utilities weakness offsetting Autos strength. Dow Jones futures muted before NFP.
The UK 100 is in the midst of a break beyond the 7165 ceiling of a 2-week channel. The DAX 30 is still trying to break beyond falling highs at 11650. Dow Jones Futures face fresh falling highs resistance at 19920. Gold may have pulled back below $1220 but remains in a 1-week uptrend.
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The UK 100 is in the midst of a break beyond the 7165 ceiling of a 2-week channel. Is this the turnaround Bulls have been looking for?
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 is still trying to break beyond falling highs at 111650. Convincing enough for the Bulls hoping for a recovery rally?
Watch levels: Bullish 11685, Bearish 11600
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 face fresh falling highs resistance at 19920. Can 20,000 be regained?
Watch levels: Bullish 19,930, Bearish 19,890
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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Gold may have pulled back below $1220 but is still in a 1-week uptrend. Another bounce to keep the up channel going? USD rally hindrance run its course?
Watch levels: Bullish $1216, Bearish $1210
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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