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Equity indices are posting decent gains, an uptick for USD ahead of an assumed Fed rate hike helping to bring GBP and EUR from their highs, giving a fillip to the UK Index and DAX’s international earning exporters. This as oil languishes ahead of what could be more negative US inventory data and the winds of politics continue to swirl on both sides of the Atlantic.
The UK’s UK 100 is up thanks to foreign-exposed defensives (BATS & IMB, AZN & GSK), FRES (silver strong) & GLEN (China data). Dragging on the index are UK Banks (UK political uncertainty), AHT (post results profit-taking), RIO (Copper off highs) while Germany’s DAX benefits from strength in Deutsche Post (broker upgrade), Utilities and Consumer health.
The UK Index 100 has broken above our morning report’s 7510 bullish watch level. The DAX 30 has almost completed a bullish flag pattern to re-test 12880 record highs. Dow Jones Futures are pushing fresh record highs. Gold’s bounce has found a hurdle by way of June intersecting resistance $1270.
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The UK Index 100 has broken above our morning report’s 7510 bullish watch level.
Watch levels: Bullish 7540, Bearish 7510
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 almost completed a bullish flag pattern to re-test 12880 record highs.
Watch levels: Bullish 12880, Bearish 12850
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 are pushing fresh record highs.
Watch levels: Bullish 21,360; Bearish 21,305
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 bounce has found a hurdle by way of June intersecting resistance $1270. But is that a bullish inverse H&S reversal pattern forming, potentially taking it up to $1280?
Watch levels: Bullish $1270; Bearish $1265
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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