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Equity markets are positive once again, albeit not as sharply as yesterday as some risk-on excitement dissipates. Gains in Europe are underpinned by attractive translational FX impact: the UK Index benefiting from weak Sterling after July inflation came in weaker than expectations, while German quarterly GDP growth disappointed (despite an annual acceleration), denting the Euro to the benefit of the DAX.
The UK’s UK Index outperforms thanks to Sterling weakness helping DGE, BATS, GSK and ULVR, CRH (Home Depot read across), while Shire gains after applying to market its US dry-eye in Europe. Offering minimal weakness are RIO (removal from RBC’s conviction list), BLT (Oil weakness), NXT (Berenberg downgrade) RB. and Gold Miners. Germany’s DAX also benefits from Defensive strength (EON, Deutsche Post, RWE) while Fresnius extends its rally from 9 month lows.
The UK Index 100 sees the emergence of a rising channel towards. The DAX 30 has fallen back to 12200 after encountering falling highs resistance. Dow Jones Futures’ rally has faltered at last Wednesday’s 22060 highs. Gold has found support at $1273.
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The UK Index 100 sees the emergence of a rising channel towards 7400.
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 12200 after encountering falling highs resistance.
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’ rally has faltered at last Wednesday’s 22060 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.
Click here for help with Support & Resistance Click here for help with technicals
Gold has found support at $1273, although is yet to overcome overnight 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.
Click here for help with Support & Resistance Click here for help with technicals
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