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European equities are higher, following the US and Asian rebound. However, as much as this will please those of a bullish persuasion, looking for buying opportunities, bears highlight major indices well off the highs that futures markets hit overnight. As it stands, we’re back closer to overnight lows. Calm may have returned, but genuine risk appetite has yet to reappear. Not until investors are certain that, if this was just a technical correction, that it’s over, and not part of a bigger unwind and decline. Stronger USD helping UK Index and DAX via corresponding weakness in GBP and EUR.
The UK UK Index trades +50pts, with strong contributions from the likes of Oil (lower oil price, weaker GBP ), BATS (weaker GBP, IMB outlook), ULVR (weaker GBP), DGE (weaker GBP, beneficiary of poor Carlsberg results) and a host of financials (PRU, SMT, HSBC, BARC) with only limited drag from GLEN/AAL (stronger USD, metals lower), STAN (stronger USD, pref for HSBC) and SKP (results, headwinds).
The UK Index 100 trades 7160-7195, nearing a break one way or the other. The DAX 30 hugs rising support at 12430. Dow Jones Futures test rising support, still below falling highs resistance. Gold has turned back from $1333.
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The UK Index 100 trades 7160-7195, nearing a break one way or the other. Pause after rebound.
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 hugs rising support at 12430. Still under falling highs resistance.
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 test rising support, still below falling highs resistance.
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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Gold’s has turned back from $1333 as equity stability and USD strength returns to hamper demand for the safe-haven.
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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