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Global equities are making a positive start to the new week as the abatement of US-North Korean geopolitical tensions has lured investors back to risk assets after last week’s safe-haven flight. With both sides taking a step back from further escalation, many stocks that were sharply hit by last week’s sell-off have welcomed relief rallies as a result of bargain-hunting investors. Finally, whilst macroeconomic data and company updates are light on the ground, favourable FX moves have added further to the bullish melting pot for both the UK Index and DAX.
The UK 100 is being helped higher by gains for risk assets Banks and Miners, further helped by PRU (reports of L&G readying annuity business bid) and select European-focused consumer staples (ULVR, RB., DGE). The German DAX outperforms as all 30 components trade in the green, with the Banking sector producing the most notable gains.
The UK Index 100 has rallied from former late June lows to test intersecting resistance at 7355. The DAX 30 has extended its bounce from 4-month lows of 11935 after breaking above 12000. Dow Jones Futures are continuing towards 22000, building on Friday’s positive session. Gold has fallen to lows of $1280 as safe-haven demand falters.
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The UK Index 100 has rallied from late June highs to test intersecting resistance at 7355.
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 extended its bounce from 4-month lows of 11935 after breaking above 12000.
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 continuing towards 22000, building on Friday’s positive session.
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 fallen to lows of $1280 as safe-haven demand falters. Note, RSI has retreated from overbought
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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