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Equity markets are mixed with the UK’s UK Index down and underperforming on account of the oil price drop’s disproportionate influence, compounding additionally unwelcome GBP strength to hurt its significant international exposure. Germany’s DAX is also down, but to a lesser extent, due to EUR strength while Wall St futures suggest a small rebound following yesterday’s Energy sector weakness. All the while French and UK election excitement rises alongside revival of OPEC headlines in the run up to next month’s “to extend or not to extend” production cut meeting with Russia.
The UK’s UK 100 underperforms on account of continued drag from the Oil Majors (oil price lower, GBP strength) while a mish-mash of Miners, BAE (xd), AHT (United Rentals’ results) and BARC weigh too. Offering a buoyancy aid is ULVR (good results), BATS, RB (read across from ULVR) and HSBC & LLOY (tech rebounds ahead of results).
The UK Index 100 is flirting with 7100, off its overnight lows but unable to convince of a bullish reversal. The DAX 30 has found support at 11950 to regain 12000. Dow Jones Futures’ breakdown at 20450 yesterday has turned resistance to hinder an overnight rebound. Gold’s declines have eased, support since yesterday at $1277 and 3-week rising support lurking at $1275.
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The UK Index 100 is flirting with 7100, off its overnight and Jan/Feb lows at 7090 but unable to convince of a bullish reversal. Bounce or breakdown?
Watch levels: Bullish 7125; Bearish 7090
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 has found 2-month rising support at 11950 and regained 12000. Back to channel ceiling at 12100 or will 12050 prove a hurdle?
Watch levels: Bullish 12050; Bearish 11980
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’ breakdown at 20450 yesterday has turned resistance to hinder an overnight rebound and keep the shares in a 6-week downtrend.
Watch levels: Bullish 20,450; Bearish 20,420
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 declines have eased, support since yesterday at $1277 and 3-week rising support lurking at $1275. Or will a falling channel this week take it lower?
Watch levels: Bullish $1282; Bearish $1275
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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