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Global equities are nicely positive at this late stage in the week, buoyed by some much needed UK-EU Brexit negotiation progress this morning. This adds to US tax reform optimism and a two-week US debt ceiling extension, strong trade data from China and hopes of German coalition talks next week.
The UK UK Index is holding its bounce on strong gains for Banks (Brexit progress, Basel rules compromise), Housebuilders (Brexit progress, BKG upgraded guidance) and Miners (China trade data, China commodity demand rises). Representing a drag are BATS/RDSB/BP/DGE/IMB/ULVR, all hindered by a GBP rebound and strength after the Brexit deal.
Germany’s DAX outperforms again, thanks to USD and GBP strength, meaning helpful EUR weakness and gains across the board. Big winners include Banks (Basel rules compromise), Autos/Industrials (weak EUR, exporters) and Utilities (coalition talks ).
The UK Index 100 is holding its bounce at 7345. The DAX 30 is making an bullish test of late Nov 13200 highs. Dow Jones Futures are holding around last night’s 24250 highs. Gold has found support at late July low of $1245.
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The UK Index 100 is holding its bounce at 7345, within a narrowing pattern.
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 is making an bullish test of late Nov 13200 highs.
Watch levels: Bullish 13,245; Bearish 13,175
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 are holding around last night’s 24250 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 has found support at late July low of $1245, struggling with the stronger USD and lack of risk aversion/safehaven demand.
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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