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Equities are mixed at the half-way stage as oil prices drop on a report suggesting the US will quadruple crude oil exports to exceed that of most OPEC members within three years. This as markets prepare for Fed Chair Yellen’s testimony tomorrow, something supporting the USD, although GBP is strong on expectations of hawkish BoE speeches.
The UK’s UK Index underperforms as Oil (crude lower), Healthcare (UK NHS drug price cap), Financials and those sensitive to a stronger GBP (many defensives) weigh on sentiment and overshadow strength from HSBC & STAN (Asia-focused), GLEN & AAL (iron ore, copper) and Unilever. Germany’s DAX is higher despite a EUR off its lows, helped by Autos, Industry and financials overpowering minimal losses for Utilities and Consumer Health.
The UK Index 100 is closing in on recent 7300 lows after failing to overcome recent 7385 highs. The DAX 30 is back below 12500 after a failed breakout. Dow Jones Futures are making a bearish test of 21400, having again failed to conquer falling highs resistance. Gold remains in an accelerated downtrend after a bullish failure at $1215.
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The UK 100 is closing in on recent 7300 lows after failing to overcome recent 7385 highs. RSI 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.
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The DAX 30 is back below 12500 after a failed breakout.
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
Dow Jones Futures are making a bearish test of 21400, having again failed to conquer falling highs 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.
Click here for help with Support & Resistance Click here for help with technicals
Gold remains in an accelerated downtrend after a bullish failure at $1215. RSI 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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