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Equities are quiet but retain their bullish bias thanks to China inflation data boosting metals and their miners. This increases the chances of this being another geopolitically inspired pause for breath before another leg higher. Catalonia remains non-committal on declaring independence, Trump is threatening the Iran nuclear deal, PM May needs to break the Brexit deadlock and oil is rallying as Iraqi forces clash with Kurds after their own referendum. But investors remain unfazed. Even as the latest results season develops and central banks aim to gradually further tighten policy.
UK UK 100 is holding positive thanks to Miners (China inflation data), SHP, BP (oil rallying), HSBC (fed Chair Yellen upbeat), AZN (broker upgrade). Holding it back are CTEC (profits warning, -15%), RB & DGE (GBP off its lows) and BARC (talk of BoE holding off from rate hike). The German DAX is outperforming (just) as gains for BAY, DBK, FRE and DAI (legally separating divisions) are countered by losses for RWE (UK energy cap overhang) and SIE (JPM says GE results to give clues).
The UK Index 100 holds its October rising channel at 7535. The DAX 30 at 13000 holds a rising channel from last week. Dow Jones Futures remain in an accelerated uptrend having made fresh record highs of 22920. Gold has made a twin bullish break back above $1300.
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The UK Index 100 holds its October rising channel at 7535.
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 its rising channel from last week at 13000. Fresh 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 remain in an accelerated uptrend having made fresh record highs of 22920.
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 made a twin bullish break back above $1300.
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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