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Equities remain offside, albeit off their worst levels, as investors digest what has become a global rout and the return of volatility. Deciphering continues as to whether this is merely an overdue technical correction from overbought markets, with economic and corporate fundamentals considered solid in the face of rising interest rates. Others wonder if we are in the early stages of a more significant unwind following years of central bank stimulus, low volatility and classic optimism-fuelled complacency. If it’s the former, this could represent a buying opportunity. If it’s the latter, buckle up and don your tin hat.
The UK UK Index is down 130pts, with losses across the board, held back by RDSB (Oil off highs, preference for BP), HSBC (stronger USD, emerging markets exposure), ULVR/BATS (continued defensive sell-off), Miners (stronger USD, lower metals) and Banks (risk off). Faring better, holding up well, are NMC (UK Index outperformer for last 4 yrs), RRS (gold miner) ANTO (technical bounce), TSCO (Kantar market share data), GKN (M&A) and Sky.
The UK Index 100 bounce has slowed up at 7200. The DAX 30 has extended its bounce to 12400. Dow Jones Futures have support and 23250 Nov 2017 lows. Gold is calm around $1343 supported by safe-haven demand.
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The UK Index 100 bounce has slowed up at 7200. Can it close the gap?
Solid Green line
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 has extended its bounce to 12400. But has 12500 become 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.
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Dow Jones Futures have support and 23250 Nov 2017 lows. Will this hold up.
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’s is calm around $1343 supported by safehaven demand.
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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