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European equities are trading mixed again today as a decent results season continues, Eurozone politics heats up and the outlook for central bank policy is no clearer after Fed minutes which keep us guessing about US rate hike timing.
The UK’s UK 100 is essentially flat in spite of several big ex-dividends (HSBC, RIO, GSK, DGE, EZJ) and a slightly stronger Sterling. Buoyancy comes courtesy of positive results (GLEN, BARC, RSA, MNDI, BAE, INTU) and a tailwind for Lloyds, coupled with another oil price bounce helping the likes of BP and RDSb.
Germany’s DAX, on the other hand, is underperforming as consumer names Henkel and Bayer overpower strength in Infineon Tech and Volkswagen. Wall St is called to open flat this afternoon.
The UK 100 has bounces from 7280 for another bullish test of 7300. The DAX 30 looks to be in a bullish pennant around 12000. Dow Jones Futures are making good progress with the bullish flag we highlighted yesterday towards 21,200. Gold holds just below $1240 a step closer to a breakout that extends bullish flags towards $1280.
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The UK 100 has bounced from 7280 for another bullish test of 7300. Feb uptrend alive and well. Can a breakout be engineered?
Watch levels: Bullish 7300, Bearish 7285
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 looks to be in a bullish pennant around 12000 which could help it break higher and extend its gains towards April 2015 all time highs of 12400. USD off its highs hurting via reciprocal EUR strength.
Watch levels: Bullish 12005, Bearish 11975
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 are making good progress with the bullish flag we highlighted yesterday towards 21,200.
Watch levels: Bullish 20,800, Bearish 20,770
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 holds just below $1240 – buoyed by a weaker US Dollar – a step closer to a breakout that extends bullish flags towards $1280.
Watch levels: Bullish $1240, Bearish $1235
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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