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Equities are holding this morning’s gains, seemingly confident that this evening’s Fed statement won’t offer up anything to derail bullish sentiment from earnings season, supported by a China-inspired copper rally and oil’s rebound on hopes of Saudi/Russia export cuts.
The UK UK 100 is higher thanks to GBP weakness (USD bounce) helping heavyweight defensives (BATS, DGE, ULVR and CPG) while Copper’s rally helps Miners (GLEN, BLT, RIO), Oil majors embrace the oil price rebound and healthcare (AZN, SHP) likes the US healthcare bill struggle and GSK results. Strugglers include Asia-focused banks (HSBC, STAN) and Sage (results). Germany’s DAX sees gains Consumer and for Utilities offsetting losses in healthcare.
The UK Index 100 has completed another bullish flag at 7480 to challenge 7-week falling highs. The DAX 30 continues to move towards 12400 and completion of yesterday’s bullish inverse head & shoulders reversal. Dow Jones Futures have been dragged back above 21620, still within a whisker of all-time highs. Gold’s sell-off has found support at $1244.
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The UK Index 100 has completed another bullish flag at 7480 to challenge 7-week falling highs.
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 continues to move towards 12400 and completion of yesterday’s bullish inverse head & shoulders reversal
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 have been dragged back above 21620
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’s sell-off has found support at $1244.
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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