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European equities lower, amid quiet new year trading, although US futures are pointing higher. Eurozone PMI Manufacturing grew the UK’s cooled and corporate news is thin at best. Iranian unrest is today’s geopolitical focus with Korean threats a close second. This as markets prepare for tomorrow’s MiFID II regulatory avalanche and German coalition talks. That said, geopolitics hardly derailed the 2017 rally (or 2016), did it? Weak USD hurting via stronger GBP and EUR.
The UK UK Index is under water due to BHP/RIO/GLEN (profit taking, copper off highs), RDSb/BP (oil off best, profit taking, stronger GBP) and HSBC/STAN/LLOY (profit taking, MiFID) with limited support from BT and IAG (broker upgrades). Germany’s DAX sees out-sized losses for Lufthansa, Autos and a mix of consumer/logistics/industrials versus gains for banks.
The UK Index 100 has pulled back to support at 7645. The DAX 30 has bounced off 12745. Dow Jones Futures are back in the middle of their 24700-24900 range. Gold is close to challenging late Sept highs of $1315.
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The UK Index 100 has pulled back to support at 7645. Bounce to continue channel?
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 off 12745, but still in a mid-Dec downtrend
Watch levels: Bullish 12845; Bearish 12800
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
Dow Jones Futures are back in the middle of their 24700-24900 range. Higher or lower?
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 close to challenging late Sept highs of $1315.
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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