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Global equities are generally positive as investors calmly digest the impact of the vast MiFID II regulation taking effect across the globe, while trading volumes gradually return following the New Year. German stocks are outperforming as the US dollar rebounds from its lows, denting Euro strength to aid the region’s exporting names, while the flat UK 100 comes as a result of GBP/USD weakness offsetting GBP/EUR strength.
The UK UK Index is flat as gains for Oilers (Crude holding at 2.5yr highs), BLT & GSK (USD rebound), NXT (upgraded guidance), ABF (NXT read across) and EXPN (CS upgrade) are being offset by losses for a plethora of defensive names, including HSBC, BATS, DGE, IMB, NG and LLOY.
Germany’s DAX outperforms as Exporters (ThyssenKrupp, Volkswagen, HeidelbergCement, Continental), Infineon Tech (US tech rally overnight) and Lufthansa (Air Berlin asset sale) offset minimal weakness for Defensives (Deutsche Telekom, E.ON), Fresenius and Banks (Mifid reaction).
The UK Index 100 is holding its 7 Dec uptrend, with rising support at 7640. The DAX 30 is back from a challenge December falling highs resistance at 12950. Dow Jones Futures are trying to push back towards yesterday’s 24880 highs. Gold has made a bullish breakout above $1315.
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The UK Index 100 is flat, but holding its 7 Dec uptrend with rising support at 7640
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 back from a challenge December falling highs resistance at 12950.
Watch levels: Bullish 12950; Bearish 12880
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 trying to push back towards yesterday’s 24880 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.
Click here for help with Support & Resistance Click here for help with technicals
Gold has made a bullish breakout above $1315.
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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