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Equities remain positive into the weekend, building on the recent recovery in bullish sentiment and rebounds from recent lows. Helping out are US tech sector giants beating Q3 results expectations late last night, ECB President Draghi’s suggestion that QE, and thus easy monetary policy, are here to stay for a good while longer and geopolitics failing to scare. The DAX trades fresh record highs, the Dow holds just shy and the UK Index keeps knocking at the door.
The UK 100 is positive hanks to RDSb/BP (oil testing Sept highs on fresh Saudi pledges), BATS/DGE (strong USD/weaker GBP), RB (broker update), HSBC (results Mon), ULVR/CPG (bounces/upgrades) and RBS (results). Trying to hold it back are GLEN/RIO/BHP/AAL (strong USD, metals pullback), IAG (slower rev per passenger km growth), GSK (broker downgrades) and SHP (results).
The German DAX outperforms thanks to a dovish Draghi giving the EUR a spank yesterday, to the glee of exporters but to the misery of banks/financials. Commerzbank Bank, Munich Re and Deutsche Bank get the wooden spoon while the likes of Daimler, Vonovia, BASF and Siemens all rally. Linde and VW benefit from well received results.
The UK Index 100 holds above its 7500 breakout. The DAX 30 trades back a shade from 13251 fresh record highs. The Dow Jones Futures is flirting with a 23450 breakout to re-test record highs. Gold has found twin support at $1265.
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The UK Index 100 holds above its 7500 breakout, helped by GBP weakness resulting from USD strength, itself derived from EUR weakness.
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 back a shade from 13251 fresh record highs, helped by weaker EUR
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 is flirting with a 23450 breakout to re-test record highs, helped by corporate results and hopes of tax reform.
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 twin support at $1265. Hampered by stronger USD and lack of safe-haven demand.
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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