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Equities have rebounded from yesterday’s wobble. Investors are back focusing on what is, on the whole, another quarter of solid earnings. That and the likelihood the ECB will confirm a lower but for longer QE programme, merely extending the central bank’s (and peers’) accommodative stance on monetary policy, hitherto supportive of global equities.
The UK 100 is positive thanks to BATS (GBP pullback), Miners (KAZ ups copper guidance), ULVR (bounce) and HSBC/STAN (preference for Asia exposed banks). Holding it back are BARC (Q3 profits miss), GSK (concerns acquisition might risk dividend) and BDEV (ex-dividend).
The German DAX benefits from broad gains, most notably from Beiersdorf (ups guidance), Munich Re (share buyback; dividend safe after US hurricanes impact) and Henkel (Beiersdorf read across). There is little drag on offer via losses for both Bayer and Deutsche Bank; Q3 sales miss and disappointing trading performance, respectively.
The UK Index 100 is close to a bullish test of yesterday’s 7480 breakdown. The DAX 30 is trying to break back above 13000. The Dow Jones Futures have broken above overnight highs of 23360. Gold has sold back from $1282 to confirm a shallow falling channel.
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The UK Index 100 is close to a bullish test of yesterday’s 7480 breakdown. Uptrend resumed?
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 trying to break back above 13000, and intersecting resistance.
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 have broken above overnight highs of 23360. Bullish flag?
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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Gold has sold back from $1282 to confirm a shallow falling channel. Bearish flag?
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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