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Global equities hugging break even to start the new week, investors erring on the side of cautious optimism rather than outright risk-taking. This is because, event-wise, it could be a pivotal week as UK PM May prepares to trigger Article 50, the Fed looks set to hike rates again and a tight Dutch election could result in another anti-establishment backlash.
The UK UK 100 is showing minor gains as a weak USD helps metals prices and Miners rebound along with internationally exposed defensives while HSBC benefits from news of a new Chairman. Dragging are Oil majors BP and RDSb as the price of a barrel holds 3.5-month lows and both Telcos and consumer staples retreat along with certain financials. Germany’s DAX is flat as a real mix of stocks book-end the index.
The UK Index 100 is holding its bounce from 7340 and already made a bullish test of last week’s 7370 highs. The DAX 30 has bounced from 11950 but has yet to trouble 12000. Dow Jones Futures are holding rising support 20870 but with resistance at 20900. Gold has breached $1209 to scupper Friday’s rising support bounce as USD weakness reverses.
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UK 100 is holding its bounce from 7340 and already made a bullish test of last week’s 7370 highs.
Watch levels: Bullish 7375, Bearish 7335
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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DAX 30 has bounced from 11950 but has yet to trouble 12000.
Watch levels: Bullish 11995, Bearish 11955
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 holding rising support 20870 but with resistance at 20900.
Watch levels: Bullish 20,910, Bearish 20,860
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 breached $1209 to scupper Friday’s rising support bounce as USD weakness reverses.
Watch levels: Bullish $1208, Bearish $1203
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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