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Equity indices are once again trading flat as investors wait for an update on the ongoing recapitalisation process for Italian lender Monte dei Paschi (Finance Minister request for bailout at 2pm?) and eye the possibility of the Dow Jones breaking the 20,000 mark later today. A lack of macro data and corporate news in the run up to Christmas, coupled with a US Dollar coming slightly off its highs (impacting the UK Index ‘s exporters and DAX’s industrials) and crude oil prices unable to breakout from post-OPEC/non-OPEC production cut deal resistance are contributing further to a lack of significant movement in European bourses.
The UK 100 has broken out from yesterday’s 7040 resistance, however has now halted at 7055 top end trading channel resistance. The DAX 30 has reached a fresh 13-month high, now has to overcome 11480 resistance to increase pace of its December uptrend. Dow Jones Futures have fallen back after rallying at European market open. Now consolidating at 19960-19975 for another attempt at 20,000. Gold continues to recover from 10-month lows however remains in 6-week technical downtrend.
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The UK 100 has broken out from yesterday’s 7040 resistance, however has now halted at 7055 trading channel resistance.
Watch levels: Bullish 7060, Bearish 6995
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 reached a fresh 13-month high, now has to overcome 11480 resistance to increase pace of its December uptrend.
Watch levels: Bullish 11480, Bearish 11430
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
Dow Jones Futures have fallen back after rallying at European market open. Now consolidating at 19960-19975 for another attempt at 20,000. Will today be the day or will Italy spoil the party?
Watch levels: Bullish 19985, Bearish 19875
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 continues to recover fro 10-month lows however remains in 6-week technical downtrend.
Watch levels: Bullish $1137, Bearish $1131
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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