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Equities are rather mixed this morning into the new week. The UK UK 100 is well off its worst levels and outperforming thanks to oil pushing north and fresh GBP weakness from political woes in Westminster offering another welcome translational boost for those with international exposure. Conversely, EUR strength fuelled by a combination of USD weakness and the prospect of a Macron legislative landslide and softer Brexit is really hindering Germany’s DAX, along of course with Tech sector weakness following Friday’s US sell-off.
The UK’s UK 100 is higher thanks to Oil majors (Oil prices higher), Miners (weak GBP, Oil & Copper up) and a mix of defensives (VOD, BT, IMT, TSCO, CNA). Offering resistance is a mish-mash of index heavyweights (BATS, HSBC, AZN, RB, CPG, BAE, PRU, RR and SHP). Germany’s DAX is suffering from losses for Tech, financials and utilities outweighing gains for Autos.
The UK Index 100 has made a double-bullish breakout to test 7520. The DAX 30 is back above 12700, but remains between rising lows and falling highs. Dow Jones Futures have dropped back to 21230 after hitting record highs on Friday. Gold remains pressured by falling highs at $1270.
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The UK Index 100 has made a double-bullish breakout to test 7520.
Watch levels: Bullish 7525, Bearish 7510
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 above 12700, but remains between rising lows and falling highs.
Watch levels: Bullish 12730, Bearish 12695
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 dropped back to 21230 after hitting record highs on Friday.
Watch levels: Bullish 21,250; Bearish 21,220
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 remains pressured by falling highs at $1270.
Watch levels: Bullish $1272; Bearish $1265
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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