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Equities are hesitantly positive this morning ahead of key events later today. Two major Brexit speeches from UK International Trade Secretary Fox and EU Chief Brexit Negotiator Barnier will be closely watched for the level of divergence in views, while this afternoon, Fed Chair Powell’s first public outing in the capacity of central bank head could have a pronounced impact on the US dollar. All the while, corporate results and M&A help to push the UK 100 higher, while EUR strength following hawkish ECB comments keeps the DAX slightly offside.
The UK 100 is positive thanks to significant contributions from SKY (rival Comcast offer to Fox), PSN (special dividend 2x expectations), Banks ex-HSBC (STAN reinstates dividend), SLA (recovery post-major fund withdrawal) and ITV (Sky readacross), trumping weakness from HSBC (post-results downtrend, STAN preferred), Miners (commodities offside) and defensive Utilities (preference for Bonds).
The UK Index 100 is back at 7300 rising lows support. The DAX 30 is retreating from 12600 resistance but remains in uptrend. Dow Jones Futures have found support at 25700, maintaining their rising channel. Gold continues to narrow $1331-1334.
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The UK Index 100 is back at 7300 rising lows support. Break down or bounce from channel floor to the highs?
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 retreating from 12600 resistance but remains in uptrend.
Watch levels: Bullish 12,540; Bearish 12,500
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 found support at 25700, maintaining their rising channel.
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 continues to narrow $1331-1334. Break down to $1320 or break out to $1341?
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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