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Equities trade higher mid-morning with Europe posting small gains and Wall St futures pointing to a rebound. Musical chairs in Washington fuelled fresh concerns of instability within the Trump administration yesterday, adding to fresh worries about Russia on several fronts. Investors, however, are demonstrating new-found thickness of skin following several years of geopolitical surprises, confidence boosted by more positive China data overnight, dovish chat from ECB President Draghi and positive results/news from big corporates like Prudential and Adidas.
The UK 100 is higher thanks to PRU (business de-merger), Miners (China data, Goldman Sachs upgrades) and BATS/CRH, (stronger USD/weaker GBP), with the only real hindrance coming from HSBC/STAN/BARC (EU bad Loan rule to have capital hit, pref for PRU?) and BP/RDSB (oil prices under pressure, pre-OPEC report jitters).
The UK Index 100 has bounced off 7100 and could be forming a bullish flag at 7150. The DAX 30 bounce has been checked by yesterday’s 12275 breakdown. Dow Jones Futures have rebounded to 25100, but still face falling highs. Gold has been sent back by intersecting resistance at $1330.
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The UK Index 100 has bounced off 7100 and could be forming a bullish flag at 7150.
Watch levels: Bullish 7,170, Bearish 7,140
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 bounce from 12120 has been checked by yesterday’s 12275 breakdown
Watch levels: Bullish 12,280; Bearish 12,200
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 rebounded to 25100, but still face 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
Gold has been sent back by intersecting resistance at $1330.
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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