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Equities have regained poise after yesterday’s bout of weakness, although sentiment remains bruised following some more disappointing corporate updates. Traders are displaying a little more appetite for risk assets versus yesterday’s cautiousness, perhaps buoyed by more M&A, putting a mix of both risk and defensives in the driving seat. GBP and UK Index flat, EUR weak on ECB member comments, helping German DAX rally, while US futures outperform, rebounding from overnight lows.
The UK UK Index has its head above water thanks to gains for ULVR/DGE (defensives), GSK (Broker upgrade) and AAL/BLT (rebound, metals off lows) fighting off the drag from RDSB/BP (oil off best), BRBY/PSON (results misses), INF (merging with UBM) the defensive trio of VOD/IMB/BATS and SHP. Germany’s DAX outperforms, helped by EUR weakness, and while several sectors (consumer, autos, industrials) are split between winners and losers, the former are clearly having more of an influence.
The UK Index 100 is flirting with an upside test of 7750. The DAX 30 is bouncing back towards 13345. Dow Jones Futures are in a new rising channel back towards 26000. Gold continues to consolidate in a $1332-1344 range.
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The UK Index 100 is flirting with an upside test of 7750. Bulls need a breakout, bears spy potential for a bearish flag lower
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Possible support
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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 is bouncing back towards 13345. Bullish break above 13220.
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 in a new rising channel back towards 26000.
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’s continues to consolidate in a $1332-1344 range.
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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