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Equities are holding up well despite a supposed heightening of geopolitical risk. This after North Korea’s foreign minister stepped up threats to the US, giving fresh impetus to safe havens (bonds, gold, the yen and Swiss franc). A muted reaction among risk assets (equities, commodities), however, suggests traders are almost ignoring this war of words, potentially calling bluff on the potential for actual conflict. Fresh USD strength is helping the UK Index and DAX via weaker EUR and GBP.
The UK UK 100 is being buoyed by RDSb & BP (oil rally), GLEN (Copper bounce) and GSK (extending rebound) while drags include BATS (weaker GBP), LLOY (BoE warnings on consumer credit), WPP (broker downgrade), SHP, RB and AZN (profit-taking, rotation into GSK?). The German DAX outperforms thanks to gains for Merck KGaA (positive broker initiation), Vonovia (refinancing) and Linde outpacing standout loser Henkel (broker downgrade).
The UK Index 100 continues to struggle with 7300 as a hurdle. The DAX 30 holds above 12600, in a bullish pattern back to 12900. Dow Jones Futures are above 22300, but remain in a falling channel. Gold has broken back above $1300. Revert to support?
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The UK Index 100 continues to struggle with 7300 as a hurdle.
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 holds above 12600, in bullish pattern back to 12900
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 are above 22300, but remain in a falling channel.
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 back above $1300. Revert to support?
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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