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Index Focus - 28 December 2017

Equity markets are once again mixed in thin market trading, with the UK’s UK Index edging back from fresh intraday highs at the open and Germany’s DAX weaker as the US dollar retreats, while US futures are pointing to a positive open this afternoon. Most notably, US dollar weakness has inspired a fresh multiyear high for global growth barometer Copper, keeping the UK Index around record levels despite the falling greenback’s negative impact on the index’s plethora of internationally exposed names.

The UK UK Index has pulled back from fresh intraday highs, however remains marginally positive thanks to further advances for the heavily weighted Mining sector (RIO, GLEN, BLT, AAL), while AZN, DGE, NG. and AV. also offer support. At the other end, BT and BATS both weigh after going ex-div, while the two largest-weighted stocks on the index, Shell and HSBC, also drag with marginal losses. Germany’s DAX sees losses across the majority of sectors, with HeidelbergCement and Fresenius being the only risers of note.

The UK Index 100 is mounting a fresh charge on 7636 highs after a channel breakout. The DAX 30 is narrowing further between 13030-13060. Dow Jones Futures are testing resistance at 24810. The Gold rally has accelerated, fast approaching the $1300 mark.

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Where next?
  1. Will the index fall towards lows of 7,610? or;
  2. Will the index rise towards fresh highs of 7,636?

The UK Index 100 is mounting a fresh charge on 7636 highs after a channel breakout.

  • Watch levels: Bullish 7,633, Bearish 7,525

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Sideways/Uptrend
  • Potential support: 7627, 7623, 7620, 7616.5, 7613
  • Potential resistance: 7632, 7633, 7636, -

Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.

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Where next?
  1. Will the index fall towards lows of 13,015 or;
  2. Will the index rise towards highs of 13,140?

The DAX 30 is narrowing further between 13030-13060.

Watch levels: Bullish 13,065; Bearish 13,030

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Shallow Uptrend
  • Potential support: 13040, 13030, 13000, 12900, 12840, 12800
  • Potential resistance: 13060, 13070, 13090, 13100, 13140

Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.

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Where next?
  1. Will the index fall towards lows of 24,700? or;
  2. Will the index rise towards highs of 24,880?

Dow Jones Futures are testing resistance at 24810.

  • Watch levels: Bullish 24,820, Bearish 24,780

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Sideways/Uptrend
  • Potential support: 24800, 24785, 24750, 24720, 24700
  • Potential resistance: 24810, 14830, 24850, 24860, 24875, 24880

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

Where next?
  1. Will Gold fall towards lows of $1,236? or;
  2. Will Gold rise towards highs of $1,358?

The Gold rally has accelerated, fast approaching the $1300 mark.

  • Watch levels: Bullish $1288, Bearish $1280

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Uptrend
  • Potential support: 1290, 1287, 1285, 1282, 1280, 1275, 1265, 1261, 1260
  • Potential resistance: 1297, 1300, 1305, 1312, 1335, 1358

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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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.

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