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European equities are mixed at the half-way stage, the UK UK Index posting minimal gains as the benefits of a weak USD for commodities and sentiment boost from earnings season just about offset the drag from a stronger GBP. Germany’s DAX is in the red as EUR traders ignore ECB President Draghi’s attempt to talk the single currency lower yesterday.
The UK UK 100 outperforms thanks to the contribution from Vodafone (results), BATS (merger approval), Healthcare (continued bounce) and Oil majors (crude bounce), overpowering weakness for Banks (less chance of UK and US rate hike), Diageo and Paddy Power Betfair (negative broker initiation). Germany’s DAX is lower due to Banks and Autos faring worse than Utilities, Industrials and Consumer names.
The UK Index 100 has pulled back below 7500, but remains above yesterday’s 7480 breakout. The DAX 30 is backtracking towards rising support at 12350. Dow Jones Futures edging back towards rising support at 12600. Gold is extending its breakout from $1244.
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The UK Index 100 has made a bullish breakout trade to fresh 1-month highs at 7480. Still potential for bullish flag back to 7560
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 is backtracking towards rising support at 12350. Bounce or breach?
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 edging back towards rising support at 12600.
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 extending its breakout from $1244.
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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