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Equity markets are higher thanks to a supportive testimony from Fed Chair Yellen that lit a hawkish fire under banks in terms of supportive rate hikes whilst giving the Trump trade another leg up with a positive stateside economic outlook. While financials are understandably leading the way on this side of the pond, a stronger USD putting pressure on GBP and EUR is also providing a handy translational gain for the internationally-exposed UK Index members and DAX exporters too.
The UK 100 remains unable to overcome 7300 this week, but its February uptrend still valid. The DAX 30 Feb recovery may have topped out at 11850. Dow Jones Futures are back from record overnight highs of 20550, nearing 4-day rising support at 20500. Gold has held support at $1220 in spite of USD strength to keep bullish flags flying, both literally and technically.
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The UK 100 remains unable to overcome 7300 this week, but its February uptrend still valid.
Watch levels: Bullish 7315, Bearish 7280
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 Feb recovery may have topped out at 11850. Price testing rising support; Bearish engulfing candlestick; RSI turning down from overbought.
Watch levels: Bullish 11815, Bearish 11780
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 back from record overnight highs of 20550, nearing 4-day rising support at 20500. RSI holding overbought = bullish.
Watch levels: Bullish 20,525, Bearish 20,495
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 held support at $1220 in spite of USD strength to keep bullish flags flying, both literally and technically.
Watch levels: Bullish $1228, Bearish $1223
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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