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Global equities are in a holding pattern after the recent sell-off. Investors are waiting to see whether Trump gets his Obamacare repeal through the House of Representatives, to keep markets bullish about his ability to deliver on the pro-growth policies that got him elected. There is perhaps also an element of reflection on events in Westminster yesterday.
The UK’s UK Index is flat with Retail (NXT results, UK retail Sales), AHT+CRH (US infrastructure spending), AstraZeneca (US de-regulation) and select Miners (GLEN, AAL; copper support) in a tug of war with dollar-sensitive Defensives and Oil, despite a bounce in barrel prices. Germany’s DAX is outperforming thanks to gains for RWE, Lufthansa, Commerzbank (comments in Annual report) and Deutsche Post (DHL will deliver for AmazonFresh in Germany).
The UK Index 100 is holding its bounce from 7300 to keep the rising trend alive. The DAX 30 is struggling to overcome 11975. Bullish flag? Dow Jones Futures are trading 20600-700 but is this a bounce or a pause? Bearish flag? Gold is hanging around $1250, still hindered by both 9-month falling highs and the 200-day moving average.
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The UK Index 100 is holding its bounce from 7300 to keep the rising trend alive. RSI back from oversold.
Watch levels: Bullish 7345, Bearish 7300
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 struggling to overcome 11975. Bearish flag?
Watch levels: Bullish 11975, Bearish 11940
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 are trading 20600-700 but is this a bounce or a pause? Bearish flag?
Watch levels: Bullish 20,675, Bearish 20,640
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 hanging around $1250, still hindered by both 9-month falling highs and the 200-day moving average.
Watch levels: Bullish $1255, Bearish $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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