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Global equities have made a poor start to the new week, failing to take inspiration from financial M&A and a Deutsche Bank rights issue. Focus is on geopolitical risk, not just from North Korean sabre rattling and continued ranting from Trump, rather next week’s intended triggering of Article 50 and potential for another populist win in the Dutch election. Indices remain under pressure since last Wednesday’s peak and, whilst down, they’re not yet out thanks to rising support.
The UK Index is being driven lower by Oil, Miners, Banks and a host of USD sensitive defensives offsetting a boost from non-bank financials, Airlines and a mix of Housebuilders and UK-focused defensives. Germany’s DAX underperforms after Deutsche Bank unveils dilutive 1-for-2 rights issue while Wall ST is called to open lower after a flattish Friday close.
The UK Index 100 is holding its late-Feb uptrend thanks to triple support at 7340. The DAX 30 is trading between rising support at 11940 and 12000 resistance after this morning’s break-down. Dow Jones Futures have found support at 20900 to halt the correction. Gold remains under pressure since breaching its 2017 uptrend at $1240.
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UK 100 is holding its late-Feb uptrend thanks to triple support at 7340. This keeps the door open for a rally back to last week’s flirt with a 7400 record high.
Watch levels: Bullish 7360, Bearish 7330
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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DAX 30 is trading between rising support at 11940 and 12000 resistance after this morning’s break-down. Will the correction or uptrend prevail?
Watch levels: Bullish 11985, Bearish 11955
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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Dow Jones Futures have found support at 20900 to halt the correction. WIll the uptrend resume?
Watch levels: Bullish 20,980, Bearish 20,940
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 remains under pressure since breaching its 2017 uptrend at $1240. Does the falling channel have legs?
Watch levels: Bullish $1238, Bearish $1229
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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