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Major equity indices are mixed today with the UK’s UK 100 positive, but hampered by persistent GBP strength weighing on internationally-reliant names. This is derived from USD weakness (mid-Nov lows) after the Fed held pat last night and concern creeps in about potential fallout from the way Trump and his cabinet are handling certain issues.
Helping the UK index are Shell (oil higher, results beat), Reckitt (M&A), Miners (weak USD boosting metals, especially Gold and Silver), while Healthcare (uninspiring AZN earnings + profit-taking), Financials (Deutsche Bank miss) and Tobacco/Booze hinder (FX sensitive). The DAX is in the red as EUR rallies to its highest since 9 Dec hindering exporters, Deutsche Bank earnings disappointed and industrial Siemens gives up some of yesterday’s gains.
The UK 100 has broken above 7130 which could take it back to the 7160 channel ceiling. The DAX 30 remains trapped behind falling highs at 11650. Dow Jones Futures have broken beyond falling highs resistance and look to have found shallow rising support at 19800. Gold is testing $1220 which could open the door to a bullish flag to $1280.
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The UK 100 has broken above 7130 which could take it back to the 7160 ceiling of a 2-week channel.
Watch levels: Bullish 7140, Bearish 7125
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 remains trapped behind falling highs at 11650.
Watch levels: Bullish 11675, Bearish 11595
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 broken beyond falling highs resistance and look to have found shallow rising support at 19800. Bounce or breach?
Watch levels: Bullish 19,850, Bearish 19,810
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 is testing $1220 which could open the door to a bullish flag to $1280.
Watch levels: Bullish $1225, Bearish $1215
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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