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Equities have extended Friday’s gains, buoyed by fresh optimism that President Trump will indeed get through the much anticipated tax reform before year-end and yet more M&A/corporate transactions (Unilever, 3i, Statoil, Vonovia, Thales, Oracle). Even a rebound for GBP and EUR isn’t spoiling the bullish fun for this last full week before the Christmas break.
The UK UK Index is higher thanks to gains for GSK/BATS/DGE/RR/VOD (defensives), Prudential, HSBC (bounce), RIO (solid metals) and OML (close to £600m sale of fund unit, stronger ZAR before SA elections) all adding 1-3pts each while only RDSb is penalising the index (-2pts) despite solid oil prices, likely hindered by the USD pull-back and GBP/EUR rise.
Germany’s DAX outperforms with gains across the board, led by Industrials (ThyssenKrupp, Siemens), Bayer, Autos (VW, Continental, BMW) and Tech (SAP, Infineon). Dow futures suggest triple-digit gains when they open this afternoon.
The UK Index 100 is making a bullish test of its recent channel ceiling at 7525. The DAX 30 has broken above recent 13200 highs. Dow Jones Futures trade fresh record highs 24800. Gold is close to another bullish test of $1262.
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The UK Index 100 is making a bullish test of its recent channel ceiling at 7525.
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 recent 13200 highs.
Watch levels: Bullish 13,325; Bearish 13,265
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 trade fresh record highs 24800.
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 is pointed towards another bullish test of $1262.
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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