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Equities are on the back foot today, for this last full trading session of the year. Sentiment is weighed on by US markets and the US Dollar having retreated from their highs yesterday, investors taking profits and some risk off the table. Having helped the commodity space yesterday oil is today’s hindrance following a surprise US API stockpile build ahead of today’s official EIA figure – both key data prints in the run-up to OPEC’s supposed production cut next month to buoy global prices. UK Index Miners and Financials are in a tug of war with defensives although the latter is hampered by a slightly stronger GBP. Note Financials and Autos dragging on Germany’s DAX along with a EUR off its lows versus the USD.
The UK 100 has bounced from 7075 to regain 7100 and hold around recent highs. The DAX 30 has broken below 11450 which has since become resistance to keep it from recent highs. The Dow Jones Futures are trading around mid-Dec lows of 19800. Gold’s rebound has – for the moment- been checked at $1150 recent highs.
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The UK 100 has bounced from 7075 to regain 7100 and hold around recent highs. Can it breakout or will it retreat like US peers?
Watch levels: Bullish 7115, Bearish 7070
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 has broken below 11450 which has since become resistance to keep it from recent highs.
Watch levels: Bullish 11455, Bearish 11425
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 are trading around mid-Dec lows of 19800. Note hour RSI suggests the index is oversold. Bounce due?
Watch levels: Bullish 19860, Bearish 19795
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’s rebound has – for the moment- been checked at $1150 recent highs. Breakout or retrace?
Watch levels: Bullish $1151, Bearish $1145
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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