This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equities are mixed this morning into the close of a very exciting 2016. Weakness among Oil majors and Telecoms is hampering the UK Index , although it is holding above 7095 rising support to maintain its mid-December uptrend. Germany’ DAX is flat but Dow Jones futures are positive following yesterday’s negative close. A half-day in London and thin intra-holiday volumes round the world means limited risk-taking but it looks like bourses will at least close the year on a positive, in spite of looming political uncertainty. Perhaps because Brexit and Trump surprises failed to derail an already strong recovery rally that began in February, if anything giving them a second wind and a support level from which to rally to fresh all-time highs. A trend investors are happy to regard as a friend into 2017?
The UK 100 is back from its highs but holding 2-week rising support at 7095. The DAX 30 continues sideways within a 11410-11480 range. Dow Jones Futures are up off recent lows but yet to break from yesterday’s narrow 19800-19880 band. Gold has broken above $1150 to test $1160. Could it rally all the way back to $1195?
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The UK 100 is back from its highs but holding 2-week rising support at 7095. Can it rebound to make a fresh high and string end to a great year that saw it outperform major peers.
Watch levels: Bullish 7105, Bearish 7090
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 continues sideways within a 11410-11480 range. Will it break lower or close near 16-month highs?
Watch levels: Bullish 11442, Bearish 11410
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 are up off recent lows but yet to break from yesterday’s narrow 19800-19880 band.
Watch levels: Bullish 19880, Bearish 19835
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 has broken above $1150 to test $1160. Could it rally all the way back to $1195?
Watch levels: Bullish $1161, Bearish $1157
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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