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Equity indices are mixed this morning but retain a bullish bias and proximity to all-time highs. The UK Index has already posted a fresh record amid commodity strength as oil jumps on hopes of extended OPEC-led production cuts, boosting heavyweight Energy names, and metals benefit from a weaker USD and fresh China optimism. Wall St futures have edged back from intraday highs but remain positive while Germany’s DAX is in the red after a trio of stocks went ex-dividend (BASF, ProSeibenSat.1, Fresenius) offsetting strength for Infineon, RWE and financials.
The UK Index 100 is back from fresh record highs but holds a rising channel with support around 7435/40. The DAX 30 is back testing 3-week rising support at 12730. Dow Jones Futures’ declines have found support just above 20900 to maintain Thursday’s uptrend. Gold has extended its bounce to make a bullish test of the 200-day MA at $1231.
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The UK Index 100 is back from fresh record highs but holds a rising channel with support around 7435/40. RSI holding in upper half of chart is bullish.
Watch levels: Bullish 7450 Bearish 7435
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 is back testing 3-week rising support at 12730. Note its 4-hourly RSI wasn’t overbought before this sell-off.
Watch levels: Bullish 12760 Bearish 12730
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’ declines have found support just above 20900 to maintain Thursday’s uptrend.
Watch levels: Bullish 20920; Bearish 20900
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 extended its bounce make a bullish test of its 200-day moving average at $1231. Note daily RSI has only just bounced, far from overbought.
Watch levels: Bullish $1233; Bearish $1229
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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