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Equities are pretty flat, amid a quiet start to the week. This as geopolitics overpower any excitement towards the start of US Q3 earnings season (JPM & Citigroup Thurs). Whether it’s fears of another North Korean missile, Catalan secession, a US-Turkey visa spat, German coalition talks or Brexit/Westminster uncertainty, there’s plenty to keep markets amused while stateside trading is quiet on account of the Columbus day holiday.
The UK’s UK 100 trades near lows of the day amid GBP strength, while heavyweight oil majors (RDSb, BP) suffering from lower oil prices, Miners (RIO, GLEN, AAL) digest an iron ore test of major support and BT pulls back close to recent lows (broker downgrade). Offering limited buoyancy are defensives BATS (broker upgrade) and RB, despite GBP strength.
Germany’s DAX outperforms thanks to Utilities (E.ON , RWE financing) rebounding from last week’s UK energy policy inspired weakness, outweighing losses for Deutsche Bank (speculation of rift over Chinese based investor).
The UK Index 100 is back from recent highs, but holding above 7500. The DAX 30 has bounced from 12945 within touching distance of 13000 record highs. Dow Jones Futures have bounced off 22730 to stay on track for a bullish flag to 22900. Gold has broken from its downtrend to extend its $1260 bounce thanks to USD weakness and political uncertainty.
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The UK Index 100 is back from recent highs, but holding above 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 has bounced from 12945 within touching distance of 13000 record 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.
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Dow Jones Futures have bounced off 22730 and broken beyond 2-day falling highs, to stay on track for a bullish flag to 22900.
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 from its downtrend to extend its $1260 bounce.
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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