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Equity indices have made a bullish start to the week helped by oil prices off their lows (albeit already waning) ,financials welcoming the winding-up of failing Italian banks (even if taxpayer money used) and, most recently, a USD jump to depress GBP (despite PM May signing a DUP pact) and EUR to help both the UK Index and DAX’s international contingents.
The UK’s UK Index is being driven higher by Banks (hawkish rhetoric), Healthcare (hopes of US healthcare bill passing, paving way for deregulation), Oil majors (crude bounce) and defensives (weak GBP). Pulling the other way are Gold miners (precious metals dropped) and select defensives (RR, NG). Germany’s DAX is higher thanks to Banks, Lufthansa, D-Post and Autos.
The UK Index 100 is making a bullish test of last week’s 7480 breakdown. The DAX 30 has broken back above 12800. Dow Jones Futures are making a bullish test of 21450. Gold is back from a bearish test of $1240 to keep the uptrend in play.
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The UK Index 100 is making a bullish test of last week’s 7480 breakdown extending its bounce off April’s resistance-turned-support. RSI rising lows.
Watch levels: Bullish 7485, Bearish 7450
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 broken back above 12800, opening the door to a revisit of recent record highs.
Watch levels: Bullish 12850, Bearish 12800
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 making a bullish test of 21450 having broken out from a 4-day downtrend of falling highs resistance.
Watch levels: Bullish 21,460; Bearish 21,440
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 is back from a bearish test of $1240 to keep the uptrend in play. Back to Friday’s highs, and beyond?
Watch levels: Bullish $1245; Bearish $1240
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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