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Global equities are understandably mixed this morning as investors deal with a selection of sentiment hampering themes. Oil prices are volatile amid uncertainty about extension of OPEC production cuts. Many are sceptical Trump can get his healthcare bill through the Senate. Sunday’s French presidential election offers political risk. And a rebound in today’s Non-Farm Payrolls would likely heighten expectations of a June rate hike following Wednesday’s Fed optimism.
The UK 100 is flat thanks to Shell (SocGen upgrade; Q1 results yesterday), Miners (oil price bounce), Pearson and IAG (both Q1 results) offsetting weakness among Banks (Goldman downgraded BARC) and a trio of BP, GSK and AZN wincing at GBP strength. Germany’s DAX is the standout underperformer as USD weakness equates to unwelcome EUR strength, and a mix of stocks bookend the flagship index.
The UK Index 100 has bounced off 7230 support to keep a 2-week uptrend alive. The DAX 30 has dropped from record highs back to test 2-week rising support at 12600. Dow Jones Futures are back above 20900, trading a tight 20875-21000 range. Gold has bounced from $1225, but faces multiple hurdles following this this week’s sell-off and breakdowns.
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The UK Index 100 has bounced off 7230 support to keep a 2-week uptrend alive. Still in longer term narrowing pattern
Watch levels: Bullish 7260; Bearish 7225
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 dropped from record highs back to test 2-week rising support at 12600.
Watch levels: Bullish 12620; Bearish 12590
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 back above 20900, trading a tight 20875-21000 range. The last two weeks could yet be a bullish flag to new all record highs
Watch levels: Bullish 20,950; Bearish 20,920
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 bounced from $1225, but faces multiple hurdles following this this week’s sell-off and breakdowns.
Watch levels: Bullish $1235; Bearish $1231
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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