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Equities have started the week on the front foot, with reports of US-China talks helping ease the trade war fears which pushed equities lower last week, as well as Trump signing rather than vetoing a US government spending bill. That said, USD weakness, and thus GBP and EUR strength, is keeping equity bullishness in check, holding indices from breaking back above key levels, to inspire confidence in a turnaround. Cautious optimism into this week’s US & UK GDP.
The UK 100 is higher thanks to positive contributions from BP/RDSB (oil higher; geopolitical concerns), RBS (positive broker comment), AZN (tech bounce), HSBC (heavyweight, small bounce), FRES (broker upgrade, safe haven demand) and BARC (bullish turnaround, activist investor). Holding it back are ULVR (HQ move to mean it falls out of UK 100 ? Bond proxy weakness), BATS (stronger GBP), SKG (rejected revised bid) and CCL (extending breakdown).
The UK Index 100 is pushing for a breakout at 6955. The DAX 30 bounce has slowed up around 11950. Dow Jones Futures have broken above falling highs resistance at 23875. Gold pausing in another bullish flag, towards $1362?
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The UK Index 100 is pushing for a breakout at 6955.
Watch levels: Bullish 6960, Bearish 6935
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 bounce has slowed up around 11950
Watch levels: Bullish 11975; Bearish 11925
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 broken above falling highs resistance at 23875
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 pausing in another bullish flag, towards $1362?
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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