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Major equity indices are mixed this morning with Europe advancing but US futures in retreat. The UK Index is outperforming thanks to a weaker GBP/USD flattering foreign constituents’ profits while Oil majors and Miners benefit from buoyancy in commodity prices as oil finds support and Copper and Iron ore jump. Banks are welcoming Deutsche Bank’s money laundering settlement with US and UK authorities, something also helping propel the German DAX higher along with Autos, in spite of a flat EUR/USD.
The UK 100 has rebounded to test intersecting resistance at 7160. Similarly, the DAX 30 has had its bounce checked by falling highs resistance at 11735. To make it a hat-trick, Dow Jones Futures are struggling under the weight of 3-day falling highs at 19950. Gold has paused around $1200 after completing a bullish flag from $1180, but uptrend still valid.
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The UK 100 The UK 100 has rebounded to test intersecting resistance at 7160. Can it break higher or will it retrace?
Watch levels: Bullish 7170, Bearish 7145
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 had its bounce checked by falling highs resistance at 11735. Which way will it break from this narrowing pattern? Will rising support prevail?
Watch levels: Bullish 11750, Bearish 11680
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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After breaking back below 20,000, Dow Jones Futures are struggling under the weight of 3-day falling highs at 19950.
Watch levels: Bullish 19,960, Bearish 19,890
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 paused around $1200 after completing a bullish flag from $1180, but uptrend and rising channel still valid.
Watch levels: Bullish $1202, Bearish $1195
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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