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Equity indices are mixed again this morning with the UK’s UK Index the standout performer. This is thanks to GBP giving up all of this week’s strength as UK inflation at a 3.5yr high is seen squeezing UK consumers even more, although UK-focused banks welcome the news. Vodafone results have also been well-received and Oil holding its recent rebound is supporting Energy. Disappointments today include results from easyJet and DCC while metals prices are weaker on revived China concerns, hampering Miners, and Hargreaves faces more competition. Germany’s DAX is held back at breakeven by EUR strength and declines for BMW, BASF, Continental and Fresenius while US Dow Jones futures tread water.
The UK Index 100 has cracked 7500, completing one bullish flag and potentially in the midst of another. The DAX 30 is hovering at 12800, still in an uptrend trying to challenge recent highs. Dow Jones Futures are challenging falling highs resistance at 20980, on the second leg of a bullish flag. Gold sits just shy of its $1237 rebound highs, holding its uptrend.
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The UK Index 100 has cracked 7500, completing one bullish flag and potentially in the midst of another.
Watch levels: Bullish 7510, Bearish 7495
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 hovering at 12800, still in an uptrend trying to challenge recent highs.
Watch levels: Bullish 12805, Bearish 12780
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 challenging falling highs resistance at 20980, on the second leg of a bullish flag. RSI still in upper half = bullish
Watch levels: Bullish 21000; Bearish 20970
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 sits just shy of its $1237 rebound highs, holding its uptrend.
Watch levels: Bullish $1237; Bearish $1230
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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