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Equities are sharply higher to start the week, investors embracing Friday’s US market recovery to replenish risk appetite. While basic resources names are leading the charge higher, very few stocks find themselves in the red as a lack of macroeconomic data leaves few barriers to bullishness. USD weakness has helped commodities climb higher, most notably crude oil off 2018 lows, while GBP strength is being largely ignored by investors looking to re-position themselves following last week’s excitement.
The UK UK Index is trading 90 points higher thanks to hefty contributions from BP/Shell (Oil off lows), Miners (base metals higher on USD weakness), and heavyweight defensives BATS, ULVR, PRU, RB & DGE, with just a handful of stocks currently offside. Note all stocks on the German DAX currently positive.
The UK Index 100 is making another bullish test of 7185 intersecting resistance. The DAX 30 is trading a narrow 12310-12385 range. Break higher or lower? Dow Jones Futures have broken out from overnight highs resistance. Can they achieve another leg higher? Gold is retreating from $1324 resistance as the US dollar recovers.
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The UK Index 100 is making another bullish test of 7185 intersecting 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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The DAX 30 is trading a narrow 12310-12385 range. Break 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.
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Dow Jones Futures have broken out from overnight highs resistance. Can they achieve another leg higher?
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 retreating from $1324 resistance as the US dollar recovers.
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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