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Global equities are mixed again this morning, European bourses continuing to consolidate Monday’s rebound after the French election while US futures are higher, flirting with or even trading record highs, on fresh hopes that Trump will offer details on tax reform that will help give fresh impetus to what is a bullish market bias; aka cautiously optimistic.
The UK’s UK Index is in the red, held back by Miners (Metals prices rangebound), Banks (pause after rally) and Healthcare (GSK results at midday) overpowering gains for Tobacco (defensives), Standard Chartered (Q1 results) and CRH (EUR bounce a hindrance). The German DAX is also lower, with losses for Thyssenkrupp (strong EUR) and E.On (Tories threatening IK energy price cap) eclipsing gains for Deutsche Bank (Credit Suisse rights issue) and Linde (US growth hopes).
The UK Index 100 trades 7260-7290 offering an opportunity to trade the breakout or breakdown. The DAX 30 trades 12455-12487 in its own pause-for-breath range, awaiting a break one way or the other. Dow Jones Futures comfortably back above 21000, pointing towards March all-time highs. Gold has found support around $1262 thanks to 6-week rising support.
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The UK Index 100 trades 7260-7290 offering an opportunity to trade the breakout or breakdown when it presents itself.
Watch levels: Bullish 7290; Bearish 7255
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 12455-12487 in its own pause for breath range awaiting a break one way or the other. Posted fresh record high yesterday.
Watch levels: Bullish 12470; Bearish 12455
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 comfortably back above 21000, trading 7-week highs and pointing towards the March all-time record.
Watch levels: Bullish 21,060; Bearish 21,030
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 has found support around $1262 thanks to 6-week rising support.
Watch levels: Bullish $1267; Bearish $1259
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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