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Equities have rallied off their overnight lows to deliver breakouts and satisfy bullish hopes that yesterday’s sell-off was merely digestion of hitherto strong December gains. Sentiment is buoyed by suggestions of progress in recapitalising Italy’s troubled banks as well as expectations that the Fed will – tomorrow night – still signal a cautious path for further rate hikes. Oil prices holding their OPEC-led production cut breakouts also helps, even if scepticism is rife about pledges being respected, as does US investors’ apparent desperation to see the Dow Jones print an all-time high of 20,000 as soon as possible.
The UK 100 has broken out from its overnight sideways channel to trade back above 6900. The DAX 30 has also broken beyond overnight highs, even clearing the 11250 level. Dow Jones Futures are trying to get back above 19850 after following European indices higher. Safe haven Gold at $1158 is struggling under the weight of USD strength and equity markets pushing north again.
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The UK 100 has broken out from its overnight sideways channel to trade back above 6900. Bullish reversal after yesterday’s pull-back?
Watch levels: Bullish 6920, Bearish 6890
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 also broken beyond overnight highs, even clearing the 11250 level. Back to recent highs?
Watch levels: Bullish 11285, Bearish 11245
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 trying to get back above 19850 after following European indices higher. Another round of all-time highs on the cards again today?
Watch levels: Bullish 19855, Bearish 19835
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
Safe haven Gold at $1158 is struggling under the weight of USD strength and equity markets pushing north again.
Watch levels: Bullish $1161, Bearish $1156
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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