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Equities remain mixed but off their worst levels following yesterday’s bond market driven sell-off. The UK’s UK Index is this morning’s odd one out, underperforming on persistent GBP strength (>1.30 vs USD) weighing on internationally exposed names. This includes Energy and Miners, which are failing to derive benefit from a buoyant oil and copper, while Healthcare remains under the cosh based on US policy scepticism. Germany’s DAX is higher thanks to EUR/USD coming off its highs and most names recouping at least some of yesterday’s lost ground.
The UK 100 is lower due to Oil (strong GBP, broker downgrades), Healthcare (US scepticism), Miners (strong GBP) and UK Banks (Brexit, bond market sell-off). Keeping it off its lows are a mix of Defensives (ULVR, ABF, BT), Consumer (IAG, DGE) and Rio (copper). Germany’s DAX is being lead higher by the likes of Adidas, Tech, Utilities and Lufthansa.
The UK Index 100 is holding above 7-month rising support at 7315. The DAX 30 is back above 12400 to keep its Dec uptrend alive. Dow Jones Futures is off its lows, within a tight 12305-12340 range. Gold has bounced from close to the floor of its narrowing pattern.
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The UK Index 100 is holding above 7-month rising support at 7315. Bulls are eyeing up the rebound; bears any potential for a breach and further downside.
Watch levels: Bullish 7350, Bearish 7320
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 above 12400 to keep its Dec uptrend alive.
Watch levels: Bullish 12450, Bearish 12400
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 is off its lows, within a tight 12305-12340 range. Will it break higher?
Watch levels: Bullish 21,340; Bearish 21,300
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 has bounced from close to the floor of its narrowing pattern.
Watch levels: Bullish $1246; Bearish $1242
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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