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UK equities are holding their ground, even trying higher, helped by more record highs on Wall St and Asia picking up the baton overnight. The UK Index is getting an additional lift from further GBP weakness, this derived from a poor UK Construction PMI print, a BoE warning that UK companies may not be able to borrow from EU banks, a lack of progress on Brexit talks and continued Tory infighting ahead of speeches from both Davis and Johnson.
The UK’s UK 100 is being helped higher by FERG (results), HSBC (Asia calm), Miners (metals off lows) and Oil Majors (oil stemmed losses) while BATS (defensives shunned), WPP (MS stake sale), BAE (broker downgrade) and PRU (profit taking) prove a drag. The German DAX is closed for a national holiday, although futures prices are positive.
The UK Index 100 has broken above 7440, opening the door to 7540. The DAX 30 (futures) sit just shy of 2017 record highs having completed a bullish reversal pattern. Dow Jones Futures look to be in the midst of a bullish flag to 22900. Gold has found support at $1268 after its latest leg down.
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The UK Index 100 has broken above 7440, opening the door to 7540 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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The DAX 30 futures sit just shy of 2017 record highs having completed a bullish reversal pattern.
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 look to be in the midst of a bullish flag to 22900, the ceiling of a 5-month up 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 has found support at $1268 after its latest leg down
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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