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Equities are flattish into half-time. This is not unusual in the run-up to the US monthly jobs report, one which may refresh sentiment towards US equities as well as expectations about future Fed rate increases. How an already weak USD reacts may impact both the UK Index and DAX by way of the accompanying GBP and EUR moves.
The UK UK 100 is flat with gains for BATS (rebound after FDA + weaker GBP poste BoE update), RIO (rebound after results, Copper prices solid), DGE (weaker GBP), RBS (H1 results; profit), STAN (rebound after results) and GLEN (copper proxy) offset by losses for SHP (digesting yesterday’s results), RDSB (lower oil prices), PRU & AV (Swiss Re results), HL (dividend cut due to capital adequacy alert) and PSN (article about end of Help to Buy).
Germany’s DAX is faring a tad better as gains for Infineon (broker upgrade), Adidas (digesting yesterday’s results) and Commerzbank (German govt may sell stake after election) overpower the drag from VW (UK car registrations, dieselgate).
The UK Index 100 has potential for a bullish flag breakout beyond 7500. The DAX 30 remains hampered by falling highs at 12200. Dow Jones Futures continue to push fresh record highs above 22000. Gold’s bounce has stalled at $1270.
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The UK Index 100 has potential for a bullish flag breakout beyond 7500.
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 remains hampered by falling highs at 12200, but continues to hold long-term rising support at 12100.
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 continue to push fresh record highs above 22000. RSI stuck overbought is bullish.
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 stalled at $1270.
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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