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Equities are mixed mid-morning with the UK’s UK Index and German DAX underwater. Futures prices, however, suggest a positive open for Wall St this afternoon, building on yesterday’s gains after the Fed’s Bullard suggested four rate hikes might be too much this year, calming recent fears of the Fed over-tightening policy. Alongside a raft of major corporate updates this morning, the latest on UK Brexit objectives after a Cabinet away day keeps politics in focus, not forgetting welcome calm in spite of a looming Italian general election (4 Mar). German GDP and Eurozone inflation were both in-line.
The UK 100 is being held back by negative contributions from RBS/IAG (results), RDSB/BP (stronger GBP, oil off highs), AZN/GSK (more profit taking), HSBC/BARC (all banks lower) and BAE (broker downgrade), overpowering positive input from BT/VOD (Ofcom clarity on broadband), BATS (rebound) and SLA (results, insurance disposal).
The UK Index 100 trades 7235, between overnight highs and lows. The DAX 30 trades off day lows at 12450, still in a Feb narrowing pattern. Dow Jones Futures still pressured by falling highs resistance at 25200. Gold’s bounce from $1326 confirms a new rising channel.
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The UK Index 100 trades 7235, between overnight highs and lows
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 trades off day lows at 12450, still in a Feb narrowing pattern
Watch levels: Bullish 12,470; Bearish 12,430
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 still pressured by falling highs resistance at 25200
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’s bounce from $1326 confirms a new rising channel.
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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