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Equities are positive this morning, investor sentiment buoyed by Wall St making fresh record highs last night as optimism about the Trump trade paying off remains strong. The DAX is outperforming thanks to EUR/USD back down at the lows of yesterday to help exporters while Financials gain. The UK’s UK 100 , however, is underperforming due to GBP still holding following a solid Q4 GDP print, weighing on currency-sensitive defensives and Miners as profit-taking takes some stocks off their highs and poor earnings from Unilever sting. Still, the index is holding breakeven, helped by Financials (RBS clarity on legal provisions), a Healthcare bounce and positive earnings from Diageo.
The UK 100 remains in a rising channel 7160-7190 yet to prove whether it is a bullish rebound or bearish flag. The DAX 30 is holding just below yesterday’s fresh 20-month high of 11890. Dow Jones Futures have pulled back towards 20100 where they have found rising support since yesterday afternoon’s 20K breakout. Gold has broken below $1200 to confirm a a bearish double-top back to $1180.
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The UK 100 remains in a rising channel 7160-7190 yet to prove whether it is a bullish rebound or bearish flag that breaks lower.
Watch levels: Bullish 7200, Bearish 7155
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 holding just below yesterday’s fresh 20-month high of 11890.
Watch levels: Bullish 11890, Bearish 11835
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 pulled back towards 20100 where they have found rising support since yesterday afternoon’s 20K breakout.
Watch levels: Bullish 20,125, Bearish 20,100
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 broken below $1200 to confirm a bearish double-top back to $1180.
Watch levels: Bullish $1195, Bearish $1190
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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