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Equities are nursing losses thanks to an unwelcome (unless of course you’re short!) escalation in geopolitical tensions between the US and North Korea, both trading nuclear threats that have awoken volatility from its slumber and seen risk assets shunned in favour of the traditional safe havens.
The UK UK 100 is getting most of its negative influence from Financials, Pharma, Miners and those with big international exposure as GBP strengthens against both USD and EUR. This is easily outweighing limited support from Vodafone, BAES Systems and safehaven miners Fresnillo and Randgold Resources.
Germany’s DAX is sharply lower, in spite of a lower EUR, due to big losses for banks (Deutsche Bank,Commerzbank) like the UK Index , coupled with widespread weakness across a mix of insurers (Munich Re results), consumer and industrials.
The UK Index 100 has broken below 7500, potentially the start of another leg lower, fuelled by 41pts of ex-divs tomorrow. The DAX 30 has fallen back to August rising support at 12125. Dow Jones Futures have found support at 22000. Gold has broken beyond August falling at $1266. Bullish flag to $1320?
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The UK Index 100 has broken below 7500, potentially the start of another leg lower, fuelled by 41pts of ex-divs tomorrow.
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 fallen back to August rising support at 12125.
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 found support at 22000
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 has broken beyond August falling at $1266. Bullish flag to $1320?
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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