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Equities remain mixed, and to a certain extent rangebound. The UK Index holds its sideways channel, digesting the recent rally. The DAX outperforms after a breakout from the range since yesterday lunch. Poor China/German trade data dented sentiment, but a weaker USD helping commodities and positive corporate results keep the longer-term uptrend alive.
The UK UK 100 is just above breakeven, thanks to Oil majors (higher oil price, ex-div Thurs), STAN (post results rebound) and a trio of AZN, GSK and DGE ahead of ex-divs on Thursday. Hampering progress are BATS, VOD and RB (defensives, post-bounce profit taking), RIO (iron ore price drop), HSBC (profit taking in HK) and PPB & IHG (results).
Germany’s DAX is higher, despite EUR strength, thanks to Deutsche Post (results; trade barometer), Siemens (new train order), RWE (Bloomberg article on industry growth) offsetting weakness for HeidelbergCement (German trade data?).
The UK Index 100 trades 7515-7535, waiting to make a break. The DAX 30 has bounced off 12225. Dow Jones Futures retest 22,110 after breaking above yesterday’s falling highs. Gold is rallying back towards falling highs resistance at $1267.
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The UK Index 100 trades 7515-7535, waiting to make a break. Bullish flag pause? Back to record highs?
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 bounced off 12225. Back to channel highs?
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 retest 22,110 after breaking above yesterday’s falling highs.
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 is rallying back towards falling highs resistance at $1267.
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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