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UK equities are mixed at half time (both for the day and week). The UK Index is flat, hindered by lower oil prices and a stronger GBP, derived from more stronger than expected UK PMI Services and USD weakness (US debt concerns) although the latter is helping buoy its many commodity sensitive names. The German DAX is being dragged lower by similar EUR strength as well as disappointing Eurozone Retail Sales and concerns about Catalonia declaring independence.
The UK’s UK 100 sees gains for Asia-reliant financials (HSBC, STAN) and Miners (RIO, AAL, BLT) welcoming USD weakness, and DGE extending a last September bounce, being offset by oil majors (BP, RDSb) suffering from persistent oil price weakness, CNA & SSE down on concerns about new UK energy policy and TSCO Q2 results getting a mixed reception.
The German DAX underperforms due to losses for ThyssenKrupp (equal representation for Tata employees after merger), E.On (UK policy concerns) and Banks (Spanish banks lower after Catalan referendum) overpowering gains for Fresenius and Autos (poor sales figures from US peers) and property name Vonovia (Fidelity positive).
The UK Index 100 is holding steep rising support at 7460. The DAX 30 has made a fresh record high of 12975, but may be tiring. Dow Jones Futures have extended the bullish flag we highlighted yesterday. Gold has broken above falling highs resistance to re-test $1280.
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The UK Index 100 is holding steep rising support at 7460.
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 made a fresh record high of 12975, but may be tiring. RSI turning over?
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 have extended the bullish flag we highlighted yesterday. nel.
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 broken above falling highs resistance to re-test $1280. Resistance for RSI?
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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