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Indices are distinctly mixed this morning with the German DAX and US Dow Jones pushing fresh highs. The former plays catch-up from holiday, helped by the EUR remaining under pressure. The latter benefits from tech sector gains, supportive earnings reports and tax reform optimism. The UK UK Index is flat due to some disappointing results and good manufacturing data inspiring unhelpful GBP strength, countering positive macro data from China supportive of Miners.
The UK 100 is flat as gains for Miners (China PMI), Oil majors (oil highs, API), AZN/GSK (drug news), PPB (results) VOD and BATS fight off negative contributions from STAN/NXT (poor results), MKS/ABF (NXT read across) and RB.
Germany’s DAX plays catch up from a day’s holiday, with strength across the board, led by Infineon Technologies (Apple iPhone X demand), Autos (Honda ups forecasts), Industrials, Personal Goods and Utilities, while Adidas (Under Armour read across), Deutsche Telekom (Sprint/T-Mobile deal collapse?)and Prosiebansat.1 nurse losses.
The UK Index 100 is back from 7530 highs, but holding above 7500. The DAX 30 has accelerated towards the 13500 ceiling of a 2-month rising channel. The Dow Jones Futures have bounced off rising support at 23400. Gold has turned back from $1281, still hindered by 2-week falling highs.
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The UK Index 100 is back from 7530 highs, but holding above 7500.
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 accelerated towards the 13500 ceiling of a 2-month rising 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 have bounced off rising support at 23400 in a 2-month up 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.
Click here for help with Support & Resistance Click here for help with technicals
Gold has turned back from $1281, still hindered by 2-week falling highs.
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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