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European equities remain bid, building on yesterday’s bounces, as investors adopt fresh calm from their latest geopolitical jitters (Germany, UK, Zimbabwe) heading into the UK budget and US Thanksgiving long weekend.
The UK Index has turned positive thanks to contributions from BP/RDSb (oil bounce), BATS/IMB (GBP off highs), PRU (China insurers rallied, fresh record highs), EZJ (Q3 results) and SLA (extending bounce). Holding it back are CPG (FY results), GSK (extending declines) and ITRK (trading update). Germany’s DAX outperforms thanks to Autos (Goldman Sachs sees value), ProSieben (upgrade and broker roadshow) while RWE (profit taking after yesterday’s jump) offers the biggest drag.
The UK Index 100 is flirting with a breakout at 7400 to confirm a bullish triple bottom reversal. The DAX 30 has broken above 13100 starting a pair of bullish patterns to 13300. Dow Jones Futures are testing 23490 resistance, with potential for a brace of bullish patterns to 23600. Gold sits back at $1280 after retracing from $1295 resistance.
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The UK Index 100 is flirting with a breakout at 7400 to confirm a bullish triple bottom reversal.
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 broken above 13100 starting a pair of bullish patterns (bullish flag and bullish double bottom reversal) to 13,300.
Watch levels: Bullish 13,150, Bearish 13,100
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 testing 23490 resistance, with potential for a brace of bullish patterns to 23600.
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 sits back at $1280 after retracing from $1295 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
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