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Major equity markets are hugging break-even this morning as a dollar pullback weighs on the UK Index and DAX via unwelcome reciprocal GBP and EUR strength and investors pause to consider the outlook from a political, economic and central bank standpoint. While equities hold up around recent highs, bonds and safe havens are performing well too.
On the UK’s UK Index , the Mining sector represents the biggest drag, despite Oil and metals prices on the front foot, coupled with a results miss from Smith & Nephew offsetting gains for Oil, Healthcare, Financials, VOD and NG. Germany’s DAX is outperforming as Consumer Health and Utilities prevail in a tug of war with Financials, Tech, Autos and Industrials.
The UK 100 is hovering below 7200, holding yesterday’s bounce. The DAX 30 is back at 11575 after twin resistance at 11630. Dow Jones Futures have regained 20050 thanks to rising Feb support. Gold at $1242 is pushing on with its bullish flag towards $1280.
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The UK 100 is hovering below 7200, holding yesterday’s bounce. Pause before another leg higher?
Watch levels: Bullish 7200, Bearish 7180
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 back at 11575 after twin resistance at 11630
Watch levels: Bullish 11590, Bearish 11535
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 have regained 20050 thanks to rising Feb support and broken beyond 2-day falling highs to open the door for a revisit of 2160 record highs.
Watch levels: Bullish 20,065, Bearish 20,015
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 at $1242 is pushing on with its bullish flag towards $1280.
Watch levels: Bullish $1245, Bearish $1239
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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