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Equities are back in the red, having failed to overcome key hurdles overnight, keeping our major indices under the cloud of falling highs resistance and a late Jan downtrend, albeit well off their sell-off lows. Calm may have returned but not enough risk appetite to engineer a break higher for further recovery. Investors still getting their bearings after the slump as we await the latest policy update from the Bank of England.
The UK UK Index is 60pts offside, held back by Energy (lower oil), Miners (stronger USD > lower metals), Banks (limited risk appetite), VOD (fibre competition), and a handful of defensives giving up some of yesterday’s bounce gains. Positive contribution from GSK (new HIV drugs, extending bounce), CPG (results) and AZN (GSK read-across, sector strength).
The UK Index 100 trades sideways 7200-7250, awaiting a break. The DAX 30 is back below 12500, in a falling channel. Dow Jones Futures are sideways 24560-24880, still consolidating. Gold has found support at $1310.
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The UK Index 100 trades sideways 7200-7250, awaiting a break.
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 is back below 12500 in a falling 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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Dow Jones Futures are sideways 24560-24880, still consolidating
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 has found support at $1310 with inits downtrend, hindered by a now stronger USD.
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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